Jefferies Downgrades Overseas Shipholding Group (OSG) to Hold

Jefferies downgraded Overseas Shipholding Group (NYSE: OSG) from Buy to Hold and cuts its price target from $31 to $21.

The firm states, "Although FRO and OSG shares have come under pressure in recent days/weeks and trade near estimated NAV, we believe the current risk/reward for both spot players is insufficiently attractive to continue adding to positions given the uncertain macroeconomic outlook. Consequently, we are downgrading both FRO and OSG shares to Hold from Buy."

For more ratings news on Overseas Shipholding Group click here and for the rating history of Overseas Shipholding Group click here.

Shares of Overseas Shipholding Group closed at $21.60 yesterday.

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