UPDATE: JP Morgan Upgrades Navios Maritime Acquisition to Overweight on Risk/Reward

JP Morgan upgraded Navios Maritime Acquisition Corporation

from Neutral to Overweight and raised the price target from $3.15 to $3.85. JP Morgan said, "We are upgrading our rating of this small-cap in light of asymmetric risk to the upside given NNA's exposure to relatively firm product tanker fundamentals and insulation from likely ongoing crude market headwinds through high-end charter cover. We recommend adding to positions while paying heed to volatility fuelled by low-end trading liquidity." Navios Maritime Acquisition closed at $3.15 on Tuesday.