Okeanis: Iran Disruption And The Road To A 30%+ Dividend Yield (Rating Upgrade)

Okeanis Eco Tankers is upgraded to buy, driven by a modern fleet, spot market exposure, and robust earnings outlook. ECO's Q2 results are expected to be extraordinary, with guidance around $200,000/day and significant Venezuelan cargo premiums. Valuation remains compelling: trading at ~1.1x NAV, with a fair value estimate of $60/share and a potential 40% annualized yield.