Wells Fargo says tanker company valuations may get worse through the first half of 2017 before getting better as Opec cuts get implemented, newbuilding deliveries accelerate and resale prices weaken.
Senior analyst Michael Webber says investors need to watch the "bad news parade for signs of a bottom" in tanker company valuations over the next six months. He also reduced estimates on a host of names in response to lower rate forecasts for the year.
"We'd
