Stock Rating Downgrade
The Value Trend Rating for Euronav (NYSE: EURN) weakened recently from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
Euronav (NYSE: EURN) stock closed at $16.59 on 4/8/24 after a decline of -2.3%. However, exceptionally low trading volume at 36% of normal accompanied the decline. The stock is unchanged during the last week and has performed in line with the market over the last nine months.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, EURN is expected to continue to be an important Value Builder.
Euronav has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Euronav has a slightly positive Power Rating of 61 and a slightly positive Appreciation Score of 62, resulting in the High Neutral Value Trend Rating.
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