UPDATE: Evercore Partners Lowers Overseas Shipholding's PT

According to a research report published earlier today, Evercore Partners has decreased Overseas Shipholding Group Inc.'s

PT from $14 to $8. Evercore Partners commented in the report, “Despite strong relative underperformance year-to-date and the fact that OSG is trading near its 52-week low, we expect the stock to remain under pressure over the next few quarters as the expected seasonal weakness in tanker rates drives accelerating losses at those companies with high spot market exposure.” Evercore Partners maintains its Underweight rating on Overseas Shipholding, which closed yesterday at $9.16.