Euronav NV cut to Hold at Deutsche Bank on Q4 results, takeover uncertainty

Deutsche Bank downgraded Euronav NV to Hold from Buy with a $17.86 price target. The analyst cites the company’s Q4 earnings miss that was driven by lower than expected revenues while noting that the stock will trade just below the mandatory take-over price of $17.86/share. Uncertainty remains surrounding the takeover process and what that will mean for near-term trading volumes and liquidity, the firm tells investors in a research note.