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A leading US investment bank has initiated research coverage of Greek tanker operator Tsakos Energy Navigation.
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Found an interesting story?
Top marks for TEN
A leading US investment bank has initiated research coverage of Greek tanker operator Tsakos Energy Navigation.
Michael Webber of Wells Fargo Securities stamped the owner’s New York-quoted stock with an “outperform” rating and set a valuation range of $9.00 to $10.00 per share.
“Tsakos owns a fleet of 62 tankers (42 crude, 16 product, two shuttle tankers, and two LNG carriers), which provides exposure to what we believe will be a gradually firming tanker market in the second-half of 2014/2015,” he told clients Monday.
“Further, Tsakos' discounted valuation (about 0.9x net asset value), and its growing stable of
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