Upgrades and Downgrades

Overseas Shipholding upgraded to "outperform"
August 13, 2007
Credit Suisse
(newratings.com)

Analyst G Lewis of Credit Suisse upgrades Overseas Shipholding Group (OSG) from "neutral" to "outperform." The target price has been raised from $82 to $85.

In a research note published this morning, the analyst mentions that the company’s share price has declined by over 25% since mid-July. The average spot charter rates are at the low-to-mid $20,000 per day range for VLCC (modern), which is the highest [correction: lowest] level since 2003, and are expected to remain at about this level through August and increase to $50,000 per day in 4Q, the analyst says.

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Top Tankers "hold"
August 14, 2007
Cantor Fitzgerald
(newratings.com)

In a research note published yesterday, analysts at Cantor Fitzgerald maintain their "hold" rating on Top Tankers Inc (TOPT). The target price is set to $8.

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Tsakos Energy Navigation "buy"
August 14
Cantor Fitzgerald
(newratings.com)

In a research note published yesterday, analysts at Cantor Fitzgerald maintain their "buy" rating on Tsakos Energy Navigation (TNP). The target price is set to $85.

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General Maritime "buy"
August 2nd, 2007
(Briefing.com)

Cantor Fitzgerald upgrades Hold to Buy. Target $29 to $31. Cantor Fitzgerald upgrades GMR to Buy from Hold and raises their tgt to $31 from $29 saying a higher valuation multiple is warranted, due to the co's high cash flow and dividend yield, as well as its significant time charter coverage.
[oiltankers note August 15th: stock down 11% since upgrade]