Sterne Agee Reports on General Maritime (GMR)

In a report released yesterday, Sterne Agee commented on General Maritime GMR. In the report, Sterne Agee was mixed in its outlook of the company. Sterne Agee writes, “We are changing our estimates as follows: 2011 goes from a $0.53 loss to a $0.46 loss; 2012 goes from a $0.34 loss to a $0.28 loss. Note that our net loss estimates are largely unchanged; the reduction in our loss estimates is due to a recalibration of our fully diluted share count. There is no change to our PT of $2.” Sterne Agee has a Neutral rating on the company and maintains a price target of $2. Shares of GMR ended the trading day at $2.13 yesterday, down $0.02 from the opening bell.