Wall Street's Most Accurate Analysts Give Their Take On 3 Energy Stocks Delivering High-Dividend Yields
Portfolio Pulse from Avi Kapoor
Analysts have provided their latest ratings on three high-dividend energy stocks: Nordic American Tankers (NAT), DHT Holdings (DHT), and CVR Energy (CVI). NAT was downgraded by Jefferies and had its price target cut by Evercore ISI. DHT received a price target increase from Stifel and an upgrade from Jefferies. CVI had its price target reduced by both JP Morgan and Mizuho.
October 04, 2024 | 11:53 am
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NEGATIVE IMPACT
CVR Energy had its price target cut by JP Morgan to $23 and by Mizuho to $25, maintaining an Underweight and Neutral rating respectively. Despite posting a profit, the stock faces a cautious outlook from analysts.
The reduction in price targets by JP Morgan and Mizuho, along with maintained cautious ratings, suggest a negative short-term outlook for CVI, potentially leading to downward pressure on the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Nordic American Tankers (NAT) was downgraded by Jefferies from Buy to Hold, with a price target cut to $4. Evercore ISI also reduced its price target to $4. Despite recent better-than-expected earnings, the stock faces pressure from analyst downgrades.
The downgrade by Jefferies and the price target cuts by both Jefferies and Evercore ISI suggest a negative short-term outlook for NAT, despite its strong earnings. This could lead to downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
DHT Holdings received a Hold rating from Stifel with a price target increase to $13, and an upgrade to Buy from Jefferies with a price target of $14. The stock's recent better-than-expected sales results support a positive outlook.
The upgrade by Jefferies and the increased price targets from both Jefferies and Stifel, along with strong sales results, indicate a positive short-term outlook for DHT, likely leading to upward price movement.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100