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UPDATE: Clarkson Capital Markets Initiates Navios Maritime Acquisition Corporation at Outperform on Taker Exposure

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Earnings Scheduled For May 19, 2016
Navios Acquisition Provides Revolving Loan Facility of up to $50.0M to Navios Holdings

Clarkson Capital Markets coverage on Navios Maritime Acquisition Corporation (NYSE: NNA) with an Outperform rating and a $3.25 price target.

Clarkson Capital Markets commented, "Long-term product tanker market is attractive… We forecast that product tanker demand will have a 2012-2015 CAGR of 4.2% and looks to exceed product tanker fleet supply which we estimate to have a 2.0% CAGR over the same period. … NNA's attractive exposure to the fundamentally improving product tanker market, its long term contract cover, its funded capex and its ability to pay its dividend, and, possibly, raise it over the long-term, drive our Outperform rating."

Navios Maritime Acquisition Corporation closed at $2.52 on Friday.

Latest Ratings for NNA

DateFirmActionFromTo
Mar 2016Wells FargoDowngradesOutperformUnderperform
Feb 2016UBSMaintainsBuy
May 2015JP MorganInitiates Coverage onOverweight

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Posted-In: Clarkson Capital MarketsAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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