Euronav (NYSE:EURN) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, MarketBeat Ratings reports. The firm currently has a $10.00 price objective on the shipping company’s stock. Morgan Stanley’s target price points to a potential upside of 19.76% from the company’s previous close.
A number of other equities analysts have also recently issued reports on EURN. Stifel Nicolaus set a $8.00 price objective on shares of Euronav and gave the stock a “hold” rating in a research report on Sunday, October 29th. Zacks Investment Research raised shares of Euronav from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. TheStreet cut shares of Euronav from a “c-” rating to a “d+” rating in a research report on Tuesday, November 14th. Deutsche Bank set a $10.00 price objective on shares of Euronav and gave the stock a “buy” rating in a research report on Thursday, December 21st. Finally, UBS Group increased their price objective on shares of Euronav from $8.75 to $9.25 and gave the stock a “neutral” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Euronav currently has an average rating of “Hold” and a consensus target price of $9.35.
Euronav (NYSE:EURN) traded up $0.60 during mid-day trading on Monday, hitting $8.35. 572,502 shares of the stock were exchanged, compared to its average volume of 832,640. The company has a market cap of $1,233.87, a PE ratio of 39.76 and a beta of 0.56. Euronav has a one year low of $6.90 and a one year high of $9.65.
Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.
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