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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Tommaso who wrote (32625)6/1/2004 1:40:42 PM
From: Larry S.  Read Replies (2) of 206209
 
Tanker companies gain on JP Morgan upgrade (OSG, OMI) By Mark Cotton
NEW YORK (CBS.MW) -- Shares of Overseas Shipping Group (OSG) and Omi Corp (OMM) gained ground in trading Tuesday after JP Morgan analyst Jonathan Chappell upgraded the two oil tanker groups on expectations a likely rise in Saudi oil production will boost business. Chappel upped his stance on Overseas Shipping to "neutral" from "underweight," saying the company's very large crude carrier (VLCC) fleet should benefit from the Saudi move as well as the likelihood that OPEC in general will continue to produce at near capacity. The analyst raised his 2004, 2005 earnings estimates to $4.80 and $4.05 per share respectively from a prior forecast of $3.55 and $2.65 per share. Meanwhile, Chappel lifted his rating on Omi to "overweight" from "neutral," saying its Suezmax fleet is equally well-positioned to benefit from the market boom the analyst is forecasting for 2005, and which will "provide strong leverage over the next several quarters." The analyst upped his 2004 forecast by 30 cents to $1.90 and his 2005 estimate by 35 cents to $1.55 to reflect a forecast for higher spot rates for crude. Shares of Overseas Shipping were last up $2.98, or 7.8 percent at $41.12 while Omi shares rose 62 cents, or 5.9 percent, to $11.12

i bot VLCCF last week. anyone have opinion how VLCCF compares with OMM and OSG? tia. larry
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