Morgan Stanley Sees Term Coverage Extensions As Good For Nordic American Offshore Ltd

In a report published Monday, Morgan Stanley analyst Ole Slorer reiterated an Overweight rating and $22.00 price target on Nordic American Offshore Ltd NAO. In the report, Morgan Stanley noted, “Two contracts in the UK North Sea and Statoil extensions in Norway add visibility as the global PSV market face challenges. We continue to view NAO as an attractive niche player with a high quality fleet, solid balance sheet and a shareholder friendly attitude, in an otherwise challenged industry.” Nordic American Offshore Ltd closed on Friday at $19.35.