ABN Amro Downgrades Euronav before Its 4Q16 Results
By Sue Goodridge | Jan 23, 2017 1:55 pm EST
Analyst recommendations
We’ve already looked at what Wall Street analysts are estimating for Euronav’s revenue and EBITDA (earnings before interest, tax, depreciation, and amortization). Let’s look now at what analysts are recommending for Euronav and its peers.
ABN Amro Downgrades Euronav before Its 4Q16 Results
Downgrade
On January 16, 2017, ABN Amro downgraded Euronav (EURN) from a “buy” to a “hold.” It also reduced its target price to $8 from $10. In the first week of January, Deutsche Bank upgraded Euronav from a “hold” to a “buy” and also raised the target price to $10 from $8.50.
Consensus rating
Sixteen analysts have provided recommendations for Euronav. The consensus rating for the stock is 2.2, which means a “buy.” The consensus ratings for its peers are as follows:
Nordic American Tankers (NAT): 3.6, which means a “sell”
Teekay Tankers (TNK): 2.8, which means a “hold”
Tsakos Energy Navigation (TNP): 1.8, which means a “buy”
DHT Holdings (DHT): 2.3, which means a “buy”
Of the 16 analysts covering EURN stock, four analysts have recommended a “strong buy,” and six analysts have recommended a “buy.” Five analysts have given the company a “hold” recommendation, and only one analyst has suggested a “sell.”
The average target price for EURN is $10.13 compared to its current market price of $8.25. That implies a potential upside of 22.8%.
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