Deutsche Bank Updates on Shipping 7/26/11
Deutsche Bank made a number of updates on the shipping sector in a research report published today.
Eagle Bulk Shipping (NASDAQ: EGLE) had its rating downgraded from Hold to Sell. At the same time, its price target was reduced from $3 to $1. On Monday, EGLE lost 4.18% of its value to finish the day at $2.52.
Genko Shipping (NYSE: GNK) had its rating downgraded from Hold to Sell. At the same time, its price target was reduced from $8 to $4. On Monday, GNK lost 1.53% of its value to end the day at $6.44.
Excel Maritime Carriers (NYSE: EXM) had its rating downgraded from Buy to Hold. At the same time, its price target was reduced from $7 to $3. On Monday, EXM lost 3.66% of its value to end the day at $2.63. Its shares rebounded in today's pre-market trading, rising 4.56% to stand around $2.75.
Navios Maritime Partners (NYSE: NMM) had its rating upgraded from Hold to Buy. At the same time, its price target was reiterated at $20. On Monday, NMM lost 3.64% of its value to end the day at $16.14.
Diana Shipping (NYSE: DSX) had its rating reiterated at Buy. At the same time, its price target was reduced from $15 to $13. On Monday, DSX lost 2.01% of tis value to finish the day at $9.73.
Euroseas (NASDAQ: ESEA) had its rating reiterated at Hold. At the same time, its price target was maintained at $5. On Monday, ESEA lost 3.41% of its value to finish the day at $4.25.
