The fundamentals-driven tanker recovery is fully underway, DNB Markets said as it boosted ratings for nearly all the tanker owners that the investment bank covers.
Analyst Jorgen Lian upgraded shares of DHT Holdings, Euronav, Frontline and Teekay Tankers to “buy” and reiterated its “buy” rating on Scorpio Tankers. The upgrades came in a note in which he declared that the market has “solid foundations” following nearly two years of putrid earnings.
