UPDATE: Dahlman Rose Reiterates Buy Rating, Lowers PT on Tsakos Energy Navigation

In a report published Wednesday, Dahlman Rose & Co. reiterated its Buy rating on Tsakos Energy Navigation (NYSE: TNP), but lowered its price target from $12.00 to $7.50.

Dahlman Rose noted, “TNP reported 3Q EPS of ($0.18), in line with our ($0.18) and consensus ($0.19). The $0.05 dividend is lower than the usual $0.15 and could be a headwind on the shares. We reiterate our Buy, based on high-margin growth going forward and NAV, but lower our price target to $7.50.”

Tsakos Energy Navigation closed on Tuesday at $3.90.

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