Euronav (EURN) Receives a Buy from H.C. Wainwright

In a report released today, Magnus Fyhr from H.C. Wainwright reiterated a Buy rating on Euronav (EURNResearch Report), with a price target of $13.00. The company’s shares closed last Thursday at $8.54.

According to TipRanks.com, Fyhr has 0 stars on 0-5 stars ranking scale with an average return of -8.1% and a 29.5% success rate. Fyhr covers the Industrial Goods sector, focusing on stocks such as Nordic American Tanker, International Seaways, and Performance Shipping.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Euronav with a $12.41 average price target, implying a 51.0% upside from current levels. In a report issued on January 25, BTIG also maintained a Buy rating on the stock with a $12.00 price target.

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Based on Euronav’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $99.14 million and GAAP net loss of $106 million. In comparison, last year the company earned revenue of $241 million and had a net profit of $46.2 million.

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Euronav NV engages in the transportation and storage of crude oil. It operates through the Tankers and FpSO (Floating Production, Storage, and Offloading Operation) segments. The Tankers segment provides shipping services for crude oil seaborne transportation. The FpSO segment receives hydrocarbon fluids pumped by nearby offshore platforms and provides field storage. Its activities include crew, ship, and fleet management services. The company was founded in 1989 and is headquartered in Antwerp, Belgium.

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