Tsakos Energy (TNP) Receives a Buy from Maxim Group


In a report released today, James Jang from Maxim Group maintained a Buy rating on Tsakos Energy (TNP), with a price target of $5. The company’s shares closed yesterday at $3.47.

Jang said:

“We are raising our target to $5, from $4.50 as we are now utilizing 2020 NAV estimates and we expect further asset value appreciation through 2020.”

According to TipRanks.com, Jang is a 4-star analyst with an average return of 7.2% and a 40.5% success rate. Jang covers the Services sector, focusing on stocks such as Sino-Global Shipping America, Dynagas LNG Partners LP, and Nordic American Tanker.

Tsakos Energy has an analyst consensus of Moderate Buy, with a price target consensus of $4.75.

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The company has a one-year high of $4.43 and a one-year low of $3. Currently, Tsakos Energy has an average volume of 166.2K.

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Tsakos Energy Navigation Ltd. engages in the provision of maritime transportation of crude oil nad other products. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.

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