Dahlman Rose Maintains Hold on Eagle Bulk Shipping (EGLE)
Dahlman Rose left its rating on Eagle Bulk Shipping (NASDAQ: EGLE) unchanged at Hold. In a research report published today, Dahlman cited good Q1 results and remaining uncertainties with Dahlman's lenders as reasons for its decision.
In the report, Dahlman states, "Eagle continues to partially insulate itself from the weak dry bulk spot market by seeking short term time charters for its vessels and has reached an agreement with KLC to recover some of the company's uncollected charter revenues. The ongoing covenant dispute with its lenders leaves uncertain the company's liquidity position, though we expect it will reach an amicable solution. We reiterate our Hold rating."
In today's trading, Eagle added 4.57% to its value and is currently trading at $3.24.
