Market Overview

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

Share:
Related TNP
Baltic Dry Index Continues Its Decline, Shipping Stocks Mixed
Baltic Dry Index Sinks, Shipping Stocks Mixed
Update: TNP's Chief Executive Reaffirms Tanker Market Strength; Dividend Increased (Seeking Alpha)

In a report published Friday, Dahlman Rose & Co. reiterated its Buy rating on Tsakos Energy Navigation (NYSE: TNP), but lowered its price target 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 Wednesday at $3.94.

Latest Ratings for TNP

DateFirmActionFromTo
Jan 2015Global HunterInitiates Coverage onBuy
Oct 2014GMP SecuritiesInitiates Coverage onBuy
Aug 2014Wells FargoInitiates Coverage onBuy

View More Analyst Ratings for TNP
View the Latest Analyst Ratings

Posted-In: Dahlman Rose & Co.Analyst Color Price Target Analyst Ratings

 

Related Articles (TNP)

Around the Web, We're Loving...

Get Benzinga's Newsletters