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December 23, 2013
13:25 EDTSBLK, DSX, NM, ESEA, PRGNStar Bulk Carriers advances after firm hikes price target on shares
Shares of dry bulk shipping company Star Bulk Carriers (SBLK) are climbing after research firm Maxim Group raised its price target on the shares and called the company's outlook "compelling." WHAT'S NEW: Star Bulk has been aggressively modernizing its fleet by buying new vessels just in time to benefit from a rebound in dry bulk shipping, Maxim Group analyst Noah Parquette wrote in a note to investors. The dry bulk sector is "at the beginning of a cyclical upturn," the analyst predicted. Moreover, Star Bulk's stock is cheap compared with historical levels and the shares are undervalued, he contended. The analyst raised his price target on the shares to $15 from $12, but he thinks the stock could reach as high as $19-$20. Parquette kept a Buy rating on the stock. OTHERS TO WATCH: Other dry bulk shipping companies include Diana Shipping (DSX), Navios Maritime (NM), Euroseas (ESEA), and Paragon Shipping (PRGN). PRICE ACTION: In early afternoon trading, Star Bulk climbed 5.5% to $13.02.
News For SBLK;DSX;NM;ESEA;PRGN From The Last 14 Days
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April 15, 2014
05:59 EDTDSXScorpio, Diana Shipping trade well below NAV, says Deutsche Bank
Deutsche Bank says shares of Scorpio Bulkers (SALT) and Diana Shipping (DSX) are trading well below their net asset values following the recent pullback in the names. Deutsche points out that new and secondhand dry bulk asset prices have increased materially since the end of 2013. It reiterates Buy ratings on both stocks.
April 9, 2014
09:02 EDTPRGNParagon Shipping management to meet with UBS
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