Market Overview

Deutsche Bank Tells Investors To Buy Euronav Shares If Price Falls Below $8.50

Share:

Shares of Euronav NV (NYSE: EURN) have traded lower with the entire Bulk Shipping group Tuesday. The stock was down about 4.5 percent to $8.91 heading into the last hour of trade.

Deutsche Bank analyst Amit Mehrotra earlier published a note on the issue, and suggested downward revisions following the company's second quarter results "could lead to a buying opportunity."

"[W]e would advise against getting overly negative, and use potential short-term dislocations as a Buying opportunity if shares dip below our $8.50 price target," Mehrotra said.

The Deutsche Bank analyst cited an underlying view "crude tanker rates will remain well above breakeven levels for the foreseeable future, allowing EURN to generate surplus cash flow and pay decent dividends."

Mehrotra and Deutsche Bank maintained a Hold rating on shares of Euronav.

Latest Ratings for EURN

DateFirmActionFromTo
Oct 2020JefferiesMaintainsBuy
Oct 2020BTIGDowngradesBuyNeutral
Sep 2020JonesTradingInitiates Coverage OnBuy

View More Analyst Ratings for EURN
View the Latest Analyst Ratings

 

Related Articles (EURN)

View Comments and Join the Discussion!

Posted-In: Amit Mehrotra Deutsche BankAnalyst Color Analyst Ratings

Latest Ratings

StockFirmActionPT
OCXBTIGInitiates Coverage On5.0
GCMGWilliam BlairInitiates Coverage On
PDCraig-HallumInitiates Coverage On41.0
CAPLWells FargoDowngrades
MMPWells FargoDowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com