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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 Tsakos Energy Navigation Ltd. (NYSE: TNP), 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.

Latest Ratings for TNP

Feb 2019DowngradesOverweightEqual-Weight
Jan 2019DowngradesOverweightNeutral
Dec 2018MaintainsBuyBuy

View More Analyst Ratings for TNP
View the Latest Analyst Ratings

Posted-In: Fotis Giannakoulis Morgan StanleyAnalyst Color Price Target Analyst Ratings


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