Magnus Fyhr has taken a shine to tanker stocks, initiating coverage of 11 crude and products owners from his new seat at Seaport Global.
The veteran analyst placed “buy” ratings on nine of the 11 owners in an introductory report today.
“With crude and product tanker stocks down almost 24% since December, we remain constructive on the group as we believe investor concerns regarding increasing fleet growth and slowing oil demand growth are already being priced into the shares,” he said.
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