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DNB Markets Decides to Downgrade Euronav Stock

DNB Markets decreased shares of Euronav stock from a Buy rating to a Hold rating in analysts note released on Friday, 30 November.

Among 6 analysts covering Euronav (NYSE:EURN), 4 have Buy rating, 0 Sell and 2 Hold. Therefore 67% are positive. Euronav has $12 highest and $9.5 lowest target. $11.13’s average target is 27.05% above currents $8.76 stock price. Euronav had 6 analyst reports since August 10, 2018 according to SRatingsIntel. The firm earned “Buy” rating on Tuesday, August 14 by Pareto. The stock of Euronav NV (NYSE:EURN) earned “Neutral” rating by JP Morgan on Friday, August 10. The rating was maintained by Wells Fargo on Tuesday, August 14 with “Outperform”. On Friday, November 30 the stock rating was downgraded by DNB Markets to “Hold”.

About 460,582 shares traded. Euronav NV (NYSE:EURN) has risen 3.77% since December 1, 2017 and is uptrending. It has underperformed by 11.85% the S&P500.

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 has market cap of $1.91 billion. The firm operates through two divisions, Tankers; and Floating Production, Storage, and Offloading Operations. It currently has negative earnings. As of August 23, 2017, it owned and operated a fleet of 56 double hulled vessels, including 30 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 4 Suezmax vessels under construction.

More notable recent Euronav NV (NYSE:EURN) news were published by: Seekingalpha.com which released: “Euronav NV 2018 Q3 – Results – Earnings Call Slides – Seeking Alpha” on October 30, 2018, also Seekingalpha.com with their article: “Euronav: Historic Opportunity To Ride The Next Tanker Cycle – Seeking Alpha” published on May 03, 2017, Seekingalpha.com published: “Oil Tankers: Disappointing Winter Market With Cyclical Trough Ahead – Seeking Alpha” on December 21, 2017. More interesting news about Euronav NV (NYSE:EURN) were released by: Seekingalpha.com and their article: “Update: Euronav Lists On The NYSE – A Major Catalyst – Seeking Alpha” published on January 26, 2015 as well as Seekingalpha.com‘s news article titled: “Crude Tanker Market Update: Focus On VLCCs – Seeking Alpha” with publication date: February 26, 2018.
Source: MarketBeat

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