UPDATE: Lake Street Capital Markets Initiates Lake Odyssey Marine Exploration to Buy on Portfolio Diversification

Lake Street Capital Markets initiated coverage on Odyssey Marine Exploration OMEX with a Buy rating and a $6.00 price target. Lake Street Capital Markets said, “Odyssey has a growing portfolio of projects that include high value historical shipwrecks (HMS Victory), 20th century commodity wrecks (Gairsoppa/Mantola), and, growing in importance, underwater mineral deposits. The 2013 project pipeline continues to grow, providing larger opportunities at attractive risk profiles. After the partial Gairsoppa silver recover in 2012, Odyssey has operational momentum to continue its silver recovery and additional pipeline monetization in 2013.” Odyssey Marine closed at $3.08 on Friday.