Euronav investors should take the money and run, Evercore’s Jonathan Chappell recommends.
The veteran analyst said when the Belgian tanker giant offers $18.43 per share, investors should take them up on their offer, as the Saverys family’s strategy on decarbonisation and diversification could take years to complete.
“Decarbonisation, future-proofing and diversification may well be the best investment thesis of all time, but it will take a long time to play out and does not offer the same immediate-term returns of a high-dividend paying tanker company with material operating leverage in one of the best cyclical backdrops in decades,” Chappell...
