On Friday Fotis Giannakoulis upgraded the operator’s New York-quoted shares, which trade under the symbol “TNK”, from “underweight” to “equal-weight”.
“TNK has come through the worst tanker cycle of the last four years helped by its low interest cost and its parent’s support,” he wrote.
“As tanker rates have recovered, its high debt is now a benefit, but with interest resetting in 2017, risk and reward is balanced.”
Giannakoulis
