Nordic American Tankers price target lowered to $4 from $4.50 at Evercore ISI

Evercore ISI analyst Jonathan Chappell lowered the firm’s price target on Nordic American Tankers to $4 from $4.50 and keeps an In Line rating on the shares. The present yield on this “retail-heavy stock” is “attractive,” but the shares continue to trade well below net asset value, which the firm says is “mainly because there is little exciting about the earnings outlook or the equity potential.” There are many other crude and product tanker equities that offer greater earnings leverage and total return potential, the analyst tells investors.