NEW YORK ( TheStreet) -- Oil tanker stocks set a raft of new 52-week highs Monday as investors continued to pour into the sector on optimism about economic recovery and the resulting need for OPEC to hike crude production.Those ideas were reinforced by Jeffries & Co. analyst Douglas Mavrinac, who upgraded the tanker sector of the shipping industry to buy from hold on Monday -- his first sector-wide buy rating since 2006. The upgrade follows a similar call last week by Omar Nokta, an analyst at Dahlman Rose in New York.
Oil Tanker Winners: Teekay, Frontline
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.