Stifel analyst Benjamin Nolan upgraded Euronav NV to Buy from Hold with a price target of $22, up from $17. The uncertainty with respect to a potential merger has been resolved and shares can be valued on their own merits, the analyst tells investors. Shipping markets are in various stages of the cycle, but tankers are performing "very well," helped by inefficient Russia-related voyages and tight supply, the analyst added in a Q1 earnings preview for the shipping group.
Published first on TheFly
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