Morgan Stanley Reiterates Overweight, Raises PT On Tsakos Energy Navigation Following Strong 4Q14 Results

In a report published Friday, Morgan Stanley analyst Fotis Giannakoulis reiterated an Overweight rating on

, and raised the price target from $10.00 to $10.50. In the report, Morgan Stanley noted, "TNP reported adusted EPS of $0.23, significantly above consensus' $0.14 and our $0.12. Revenue jumped 21% QoQ to $99.5m (MS: $91.2m,Street: $98.2m) as average daily rates were up 20% QoQ to $21.6kpd.EBITDA was $55.3m vs Street's $53.9m and our $47.4m. As previously announced,TNP raised its quarterly dividend by 20% to $0.06, offering a solid 3.1% annualized yield." Tsakos Energy Navigation closed on Thursday at $7.83.