UPDATE: Cantor & Fitzgerald Downgrades Eagle Bulk Shipping to Sell

Loading...
Loading...
Cantor & Fitzgerald lowers its rating on Eagle Bulk Shipping
EGLE
to Sell from Hold as substantial leverage continues to be a concern. Target price is maintained at $1. Cantor & Fitzgerald notes, "While we are encouraged by Eagle's exposure to the Supramax segment, which has consistently outperformed the larger vessel classes, we remain concerned about the company's high level of debt. Furthermore, we suggest there is a low probability of recovery of charterhire from its counterparty, Korea Line, and therefore Eagle now has more exposure to the weak spot market, lowering profitability and cash flow generation." EGLE closed at $1.60 a share on Thursday.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorDowngradesPrice TargetPre-Market OutlookAnalyst RatingsCantor & Fitzgerald
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...