MARKET TALK: Tsakos Energy Navigation Buoyed by Buy Rating

12:09 EDT 13 Sept - Tsakos Energy Navigation (TNP) shares up 6% at $5.85, buoyed as Global Hunter Securities launches coverage with buy rating. The firm initiates coverage on six companies in the sector, which has struggled amid a glut of capacity and shifting demand trends. Global Hunter also ratesScorpio Tankers (STNG) at buy, but those shares are flat. Both companies have modern fleets and attractive multiples, firm says, but also notes TNP is positioned to capitalize in the LNG shipping sector – among the only areas of shipping that’s currently performing well amid strong fundamentals.

[I]Tess Stynes, © 2012 Dow Jones Newswires[/I]