In a client briefing Michael Webber of Wells Fargo Securities stamped the Monaco-based tanker operator, which is backed by Navios Maritime Acquisition Corp and trades under the symbol “NAP”, with a “market perform” rating and set a valuation range of $12.00 to $14.00.
The forecaster believes the company’s risk and reward profile “is relatively balanced” at the moment and argued that continued pressure across the energy complex, coupled with what he called a “softer MLP valuation paradigm”, will keep it range-bound in the near-term.
“NAP
