Nordic American and Tsakos Downgraded by Jefferies Amid Debt Concerns
Thursday, 12 September 2024, 18:56
Tanker Sector Analysis: Downgrades and Outlook
In recent developments, Jefferies has downgraded Nordic American Tanker (NYSE:NAT) and Tsakos Energy to Hold.
The decision comes after considerations surrounding fleet age and persistent debt issues.
Comparison with Peers
Despite the downgrades, Jefferies maintains Buy ratings on peers such as Frontline, International Seaways, and Scorpio Tankers.
This reflects a broader, more favorable outlook for the tanker stock market overall.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.