Euronav NV downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Samuel Bland downgraded Euronav NV to Neutral from Overweight with a price target of $18.43, down from $21. The analyst incorporated the recently announced Euronav and Frontline transaction into forecasts and valuations for both companies, assuming the deal takes economic effect on January 1, 2024. For Euronav, the firm downgraded to Neutral with a target price equal to the $18.43 offer price, and will await further details on strategy for the continuing group.