Jefferies has upgraded shares in Herbjorn Hansson’s Nordic American Tankers with its stock priced below net asset value for the first time in almost a decade.
Analyst Randy Giveans raised the suezmax specialist from underperform to hold and reset his target price on the stock at $3.00 per share.
It comes after a $110m equity offering was unveiled alongside fresh financial agreements that will recapitalize the New York-listed tanker owner.
