Jefferies Remains Bullish Following Tsakos Energy Navigation's (TNP) 4Q

Jefferies maintained a Buy rating on Tsakos Energy Navigation (NYSE: TNP), and cut the price target to $10.00 (from $11.00), following the company's 4Q earnings report. TNP reported EPS of $0.41 which topped the Street consensus of $0.38, primarily due to lower than expected vessel opex and interest expense incurred during the quarter.

Analyst Douglas Mavrinac commented, "This morning, TNP reported 4Q15 EPS of $0.41 which topped both Street consensus of $0.38 and our estimate of $0.40 primarily due to lower than expected vessel opex and interest expense incurred during the quarter. With TNP shares now trading at nearly a 33% discount to NAV, we believe TNP shares offer an attractive risk/reward given the attractive outlooks for the crude and refined products tanker markets."

For an analyst ratings summary and ratings history on Tsakos Energy click here. For more ratings news on Tsakos Energy click here.

Shares of Tsakos Energy closed at $6.41 yesterday.

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