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Navios Maritime Midstream +14% after double upgrade at J.P. Morgan

  • Navios Maritime Midstream Partners (NAP +14.1%) surges after J.P. Morgan awarded the stock a two-notch upgrade to Overweight from Underweight with a $6 price target
  • JPM's Noah Parquette says he has become more constructive on a crude tanker recovery in 2019, and NAP joins International Seaways (INSW +2.3%) as the analyst's favorite way to play a potential recovery; Ardmore Shipping (ASC +0.6%) remains his top pick in product tankers.
  • At the same time, Parquette downgrades Navios Maritime Acquisition (NNA -1.4%) to Underweight, citing relative valuation, high leverage and the loss of capital raising options at NAP.

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Navios Maritime Midstream Partners LP