KNOT Offshore Partners initiated with a Buy at BTIG. BTIG analyst Igor Levi initiated coverage of KNOT Offshore Partners with a Buy rating and $24 price target, citing its dominant footprint in the global shuttle tanker market with a focus on Brazil and the North Sea. The analyst also notes the "defensive" attributes of the stock thanks to the stable demand driven by the focus on offshore oil production, low levels of competition, and the absence of "speculative newbuilding". Levi adds that he is positive on KNOT's attractive dividend yield of over 10% and its fixed rate contracts.
