Jefferies slashes its price target on Overseas Shipholding Group (OSG) down to $1 from $3 after...

|About: Overseas Shipholding Grou... (OSGB)|By:, SA News Editor

Jefferies slashes its price target on Overseas Shipholding Group (OSG) down to $1 from $3 after the company warned it might have to file for bankruptcy. The dire news from the company also rattled other tanker stocks yesterday - including Teekay (TK), StealthGas (GASS), and Scorpio Tankers (STNG) - as smooth sailing doesn't look likely with oil demand below forecasts.