Euronav NV price target lowered to $18 from $21 at Deutsche Bank

Deutsche Bank analyst Amit Mehrotra lowered the firm’s price target on Euronav NV to $18 from $21 and keeps a Buy rating on the shares ahead of the Q4 results. Tanker spot rates and share prices have seen increased volatility over the past weeks as the market continues to adapt to the official implementation of E.U. sanctions on Russian crude oil, normal winter seasonality, and the pending implementation of E.U. sanctions on Russian refined oil products, Mehrotra tells investors in a research note.