Nordic American Tankers: On A Recovery And Growth Path
- Nordic American has returned to profits after four years and looks good to sustain the positive momentum on strong industry fundamentals.
- The EV/EBITDA estimates for 2014 point to significant undervaluation and the stock is likely to fill the valuation gap over the next one year.
- A healthy dividend yield of 10.7% is likely to sustain on firm day rates and vessel addition in 2014, triggering cash inflow upside.
- Follow-on public offering gives the company financial flexibility and the public offering of Nordic American Offshore provides value unlocking opportunity.