International Seaways price target raised to $55 from $45 at BTIG

BTIG analyst Gregory Lewis raised the firm’s price target on International Seaways to $55 from $45 and keeps a Buy rating on the shares. The refinery capacity increases continue to be positioned farther away from major product consumption regions, pointing to increasing seaborne product volumes later this year and in 2024, which should continue to support the ongoing product tanker up-cycle, the analyst tells investors in a research note.