B. Riley analyst Liam Burke raised the firm’s price target on International Seaways (INSW) to $90 from $64 and keeps a Buy rating on the shares. Spot rates are resilient, and cash costs are declining, and after investments in fleet renewal, the company should continue to reduce debt and return cash to shareholders, the analyst tells investors in a research note.
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Read More on INSW:
- International Seaways Posts Strong Q4 Results, Boosts Dividend
- International Seaways reports Q4 adjusted EPS $2.45, consensus $2.08
- International Seaways price target raised to $70 from $60 at BTIG
- International Seaways Accelerates Fleet Renewal With Vessel Sales
- International Seaways announces year to date sale of vessels about $185M