Euronav NV downgraded to Hold from Buy at Stifel

Stifel analyst Benjamin Nolan downgraded Euronav NV (EURN) to Hold from Buy with a price target of $17, down from $20. The merger between Euronav and Frontline (FRO) has been called off but the combination "would have created a monster tanker company," Nolan tells investors in a research note. The merger had enabled Euronav shares to close its previous valuation gap, and with the deal off, that gap is likely to return and perhaps widen, says the analyst.