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Friday, March 29, 2024

Morgan Stanley Sees Term Coverage Extensions As Good For Nordic American Offshore Ltd

Courtesy of Benzinga.

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In a report published Monday, Morgan Stanley analyst Ole Slorer reiterated an Overweight rating and $22.00 price target on Nordic American Offshore Ltd (NYSE: NAO).

In the report, Morgan Stanley noted, “Two contracts in the UK North Sea and Statoil extensions in Norway add visibility as the global PSV market face challenges. We continue to view NAO as an attractive niche player with a high quality fleet, solid balance sheet and a shareholder friendly attitude, in an otherwise challenged industry.”

Nordic American Offshore Ltd closed on Friday at $19.35.

Latest Ratings for NAO

Date Firm Action From To
Jul 2014 Morgan Stanley Initiates Coverage on Overweight
Jul 2014 Credit Suisse Initiates Coverage on Outperform
Jul 2014 JP Morgan Initiates Coverage on Neutral

View More Analyst Ratings for NAO
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Ole SlorerAnalyst Color Reiteration Analyst Ratings

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