Clarksons Securities has maintained its positive view on US tanker owner International Seaways after the share price quickly fell back to a “significant” discount to net asset value.
The stock closed in New York at $49.35 on Thursday, 29% below the investment bank’s calculation of NAV at $68.60 per share.
The price had nearly reached parity with NAV, but weakening tanker markets and the recent global share sell-off pushed it down again, analysts led by Frode Morkedal said.
