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INSW

International Seaways

$18.89

-0.59 (-3.03%)

, TNP

TEN, Ltd.

$3.36

-0.04 (-1.18%)

09:25
04/24/19
04/24
09:25
04/24/19
09:25

U.S. sanctions on Iran could benefit crude tankers, says Stifel

After the U.S. recently said it will re-institute sanctions on Iran on May 1 to now include the eight countries that previously had waivers, Stifel analyst Benjamin Nolan said he believes crude tankers could see a benefit. Nolan noted that much of Iran's oil is moved by their own vessels and the net effect could be increased demand for approximately 30 VLCCs from the trio of Saudi Arabia, Russia, and the UAE, who have said they are willing to fill the void left by absent Iranian barrels. Stocks in the crude tanker group include International Seaways (INSW), TEN, Ltd. (TNP), Scorpio Tankers (STNG), Euronav NV (EURN), DHT Holdings (DHT) and Ardmore Shipping (ASC).

INSW

International Seaways

$18.89

-0.59 (-3.03%)

TNP

TEN, Ltd.

$3.36

-0.04 (-1.18%)

STNG

Scorpio Tankers

$24.97

0.96 (4.00%)

EURN

Euronav NV

$9.56

-0.155 (-1.60%)

DHT

DHT Holdings

$5.17

0.075 (1.47%)

ASC

Ardmore Shipping

$7.14

0.17 (2.44%)

  • 02

    May

INSW International Seaways
$18.89

-0.59 (-3.03%)

11/09/18
RILY
11/09/18
INITIATION
Target $21.5
RILY
Neutral
International Seaways initiated with a Neutral at B. Riley FBR
B. Riley FBR analyst Liam Burke started International Seaways with a Neutral rating and $21.50 price target.
10/01/18
JEFF
10/01/18
INITIATION
Target $30
JEFF
Buy
International Seaways initiated with a Buy at Jefferies
Jefferies analyst Randy Giveans started International Seaways with a Buy rating and $30 price target. Tanker demand growth is set to outpace tanker supply growth through at least 2020, Giveans tells investors in a research note. As a result. he believes the crude tanker market is now past the bottom and shipping rates should improve significantly in the coming quarters and years. The analyst calls International Seaways his top crude tanker pick.
09/25/18
09/25/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Wendy's (WEN) initiated with a Buy at BTIG. 2. BJ's Wholesale (BJ) initiated with a Buy at Northcoast. 3. Central Garden & Pet (CENT) initiated with a Neutral at JPMorgan. 4. International Seaways (INSW) initiated with a Buy at Stifel. 5. Welltower (WELL) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/06/18
JEFF
12/06/18
NO CHANGE
Target $30
JEFF
Buy
International Seaways 'very attractive' play on tanker recovery, says Jefferies
After accompanying the management team in client meetings, Jefferies analyst Randy Giveans believes that International Seaways is a "very attractive" way to invest in the sustained tanker recovery "that has just begun." The recent improvement in the crude tanker market is only the beginning of what should be a multi-year recovery, Giveans tells investors in a research note. The analyst keeps a Buy rating on International Seaways with a $30 price target.
TNP TEN, Ltd.
$3.36

-0.04 (-1.18%)

01/23/19
01/23/19
NO CHANGE

JPMorgan upgrades Euronav, downgrades Scorpio, TEN in tanker earnings preview
As previously reported, JPMorgan analyst Noah Parquette upgraded Euronav NV to Overweight ahead of the company's Q4 results, stating that he expects it will be "a focus stock" for investors looking to play the tanker market. He likes Euronav's dividend policy and views the upside/downside risk as compelling following the recent selloff in the stock, Parquette tells investors. He trimmed his price target on Euronav shares to $11 from $12. Parquette downgraded Scorpio Tankers (STNG) to Neutral from Overweight with an unchanged $23 price target ahead of the company's Q4 results, stating that the dilution and leverage incurred over the past 1-2 years limits upside relative to other stocks in the space. Parquette also downgraded TEN, Ltd. to Neutral from Overweight, citing his return expectations relative to the rest of the tanker stocks he covers.
02/15/19
MSCO
02/15/19
DOWNGRADE
Target $3.5
MSCO
Equal Weight
TEN, Ltd. downgraded to Equal Weight on debt burden at Morgan Stanley
As previously reported, Morgan Stanley analyst Fotis Giannakoulis downgraded TEN, Ltd. to Equal Weight from Overweight, stating that the upcoming refinancings of the preferred stocks could erode the company's liquidity. Even as the tanker market tightens in 2020-21, the company's heavy debt repayment schedule lowers its ability to grow or pay higher dividends, Giannakoulis tells investors. He has a $3.50 price target on TEN, Ltd. shares.
01/23/19
JPMS
01/23/19
DOWNGRADE
JPMS
Neutral
TEN, Ltd. downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Noah Parquette downgraded TEN, Ltd. to Neutral ahead of the company's Q4 results.
02/15/19
MSCO
02/15/19
DOWNGRADE
MSCO
Equal Weight
TEN, Ltd. downgraded to Equal Weight from Overweight at Morgan Stanley
STNG Scorpio Tankers
$24.97

0.96 (4.00%)

01/23/19
JPMS
01/23/19
DOWNGRADE
Target $23
JPMS
Neutral
Scorpio Tankers downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Noah Parquette downgraded Scorpio Tankers to Neutral with a $23 price target ahead of the company's Q4 results.
03/04/19
RILY
03/04/19
UPGRADE
Target $25
RILY
Buy
Scorpio Tankers upgraded to Buy from Neutral at B. Riley FBR
B. Riley FBR analyst Liam Burke upgraded Scorpio Tankers to Buy and raised his price target for the shares to $25 from $22. The company has an "efficient" fleet operating in "healthy" end markets, Burke tells investors in a research note.
04/11/19
RILY
04/11/19
NO CHANGE
Target $25
RILY
Buy
Scorpio Tankers added to Alpha Generator list at B. Riley FBR
B. Riley FBR analyst Liam Burke added Scorpio Tankers to his firm's Alpha Generator list while keeping a Buy rating on the shares with a $25 price target.
EURN Euronav NV
$9.56

-0.155 (-1.60%)

01/23/19
JPMS
01/23/19
UPGRADE
JPMS
Overweight
Euronav NV upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Noah Parquette upgraded Euronav NV to Overweight ahead of the company's Q4 results.
02/12/19
DNBM
02/12/19
UPGRADE
DNBM
Buy
Euronav NV upgraded to Buy from Hold at DNB Markets
02/12/19
02/12/19
UPGRADE

Buy
DNB Markets sees risks discounted in valuation, ups crude tanker stocks to Buy
As previously reported, DNB Markets analyst Nicolay Dyvik upgraded DHT Holdings (DHT), Euronav NV (EURN), Frontline (FRO) and Teekay Tankers (TNK) to Buy from Hold as he believes the risks he put forward in his previous downgrades are now discounted in equity values. At an EV/GAV of 0.8 times, OPEC output cuts are discounted, but IMO 2020 is not, he contended, adding that ship prices are up in the past two months, as the one-year time-charter market starts to discount IMO 2020, and with tanker stocks set to follow.
DHT DHT Holdings
$5.17

0.075 (1.47%)

02/12/19
DNBM
02/12/19
UPGRADE
DNBM
Buy
DHT Holdings upgraded to Buy from Hold at DNB Markets
04/23/19
EVER
04/23/19
UPGRADE
EVER
Outperform
DHT Holdings upgraded to Outperform from In Line at Evercore ISI
01/10/19
WELS
01/10/19
DOWNGRADE
Target $5
WELS
Market Perform
DHT Holdings downgraded to Market Perform at Wells Fargo
As previously reported, Wells Fargo analyst Michael Webber downgraded DHT Holdings to Market Perform from Outperform and lowered his price target on the shares to $5 from $6.50. The analyst notes that tanker stocks have traded off with rest of the energy space, putting the group in an interesting position - cheaper P/NAV multiples, a softer 2019 outlook, but still "enough long-term juice" to warrant a gradual move back to mid-cycle values. While he is moving most of his Outperform-rated tanker names back to Market Perform, he anticipates a quicker turn in dynamics this cycle relative to past.
ASC Ardmore Shipping
$7.14

0.17 (2.44%)

09/25/18
09/25/18
UPGRADE

Ardmore Shipping upgraded to Buy from Reduce at Fearnley
Fearnley Securities analyst Peder Jarlsby upgraded Ardmore Shipping to Buy from Reduce and raised his price target for the shares to $9.30 from $6.70. With the inventory draw cycle coming to an end and oil production growth picking up, the analyst believes an inflection point will hit the product market in Q4.

TODAY'S FREE FLY STORIES

FDX

FedEx

$156.00

-4.88 (-3.03%)

, AMZN

Amazon.com

$1,879.26

-34.17 (-1.79%)

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FedEx

$156.00

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FedEx

$156.00

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17:51
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FedEx says has made no pricing changes »

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FedEx

$156.00

-4.88 (-3.03%)

17:46
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FedEx

$156.00

-4.88 (-3.03%)

17:43
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FedEx says global trade picture 'less than ideal' »

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FDX

FedEx

$156.00

-4.88 (-3.03%)

17:38
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Hot Stocks
FedEx calls FY20 a 'transition year' »

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FDX

FedEx

$156.00

-4.88 (-3.03%)

17:37
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CNX

CNX Resources

$6.83

-0.345 (-4.81%)

17:36
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Hot Stocks
CNX Resources director Bernard Lanigan purchases 36,200 shares of company stock »

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FTI

TechnipFMC

$24.96

0.21 (0.85%)

17:32
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06/25
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17:32
Hot Stocks
TechnipFMC confirms settlement with U.S., Brazilian enforcement authorities »

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  • 25

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    Aug

MO

Altria Group

$48.80

0.31 (0.64%)

, BTI

British American Tobacco

$35.76

0.56 (1.59%)

17:25
06/25/19
06/25
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17:25
Periodicals
San Francisco votes to ban sale of e-cigarettes, AP reports »

San Francisco, California…

MO

Altria Group

$48.80

0.31 (0.64%)

BTI

British American Tobacco

$35.76

0.56 (1.59%)

PM

Philip Morris

$78.85

1.02 (1.31%)

03/08/13
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CVS

CVS Health

$53.69

0.57 (1.07%)

17:16
06/25/19
06/25
17:16
06/25/19
17:16
Recommendations
CVS Health analyst commentary at Tigress Financial »

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FTI

TechnipFMC

$24.96

0.21 (0.85%)

17:15
06/25/19
06/25
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17:15
Hot Stocks
TechnipFMC, subsidiary to pay $296M to resolve foreign bribery charges »

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ORRF

Orrstown Financial

$21.93

0.22 (1.01%)

17:11
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Hot Stocks
Orrstown Financial names Thomas Brugger EVP and CFO »

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MU

Micron

$32.71

-0.47 (-1.42%)

17:07
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AGN

Allergan

$162.60

32.95 (25.41%)

, ABBV

AbbVie

$65.63

-12.78 (-16.30%)

17:07
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AGN

Allergan

$162.60

32.95 (25.41%)

ABBV

AbbVie

$65.63

-12.78 (-16.30%)

TMUS

T-Mobile

$74.56

-0.98 (-1.30%)

S

Sprint

$6.82

-0.04 (-0.58%)

DISH

Dish

$37.80

-0.79 (-2.05%)

LEN

Lennar

$48.24

-3.17 (-6.17%)

FDX

FedEx

$156.00

-4.88 (-3.03%)

UPS

UPS

$97.11

-2.58 (-2.59%)

FB

Facebook

$188.87

-3.69 (-1.92%)

PYX

Pyxus

$17.06

3.635 (27.09%)

GRUB

GrubHub

$76.01

3.96 (5.50%)

ALDX

Aldeyra

$6.21

-0.87 (-12.29%)

W

Wayfair

$144.54

-7.925 (-5.20%)

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AITB

AIT Therapeutics

$5.33

0.06 (1.14%)

17:05
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06/25
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17:05
Hot Stocks
AIT Therapeutics plans to file PMA submission with FDA for PPHN with AirNOvent »

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MU

Micron

$32.71

-0.47 (-1.42%)

17:03
06/25/19
06/25
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17:03
Earnings
Micron sees Q4 EPS 45c +/- 7c, consensus 78c »

Sees Q4 revenue $4.5B +/-…

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AITB

AIT Therapeutics

$5.33

0.06 (1.14%)

17:00
06/25/19
06/25
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17:00
Earnings
AIT Therapeutics reports Q4 EPS (49c), consensus 28c »

Reports Q4 revenue $7.7M,…

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MU

Micron

$32.71

-0.47 (-1.42%)

16:48
06/25/19
06/25
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06/25/19
16:48
Hot Stocks
Micron says it can resume shipping a certain subset of products to Huawei »

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AVAV

AeroVironment

$61.41

-0.52 (-0.84%)

16:42
06/25/19
06/25
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16:42
Hot Stocks
AeroVironment down 9.5% to $55.50 after Q4 results, FY20 guidance »

The midpoint of the…

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  • 25

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BBVA

Banco Bilbao

$5.52

-0.05 (-0.90%)

16:40
06/25/19
06/25
16:40
06/25/19
16:40
Syndicate
Breaking Syndicate news story on Banco Bilbao »

Banco Bilbao files…

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  • 27

    Oct

CRTO

Criteo

$18.00

-0.05 (-0.28%)

16:39
06/25/19
06/25
16:39
06/25/19
16:39
Hot Stocks
Criteo COO Mollie Spilman to leave company »

Criteo S.A. announced…

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KHC

Kraft Heinz

$30.68

0.17 (0.56%)

16:37
06/25/19
06/25
16:37
06/25/19
16:37
Hot Stocks
Kraft Heinz accelerates new CEO start date to June 25 »

In a regulatory filing,…

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SPOT

Spotify

$144.12

-5.99 (-3.99%)

16:34
06/25/19
06/25
16:34
06/25/19
16:34
Periodicals
Spotify chief revenue officer Brian Benedik to depart, The Information reports »

Spotify's chief…

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16:34
06/25/19
06/25
16:34
06/25/19
16:34
General news
API crude inventories for week of June 21 »

API reports that crude…

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