UPDATE: Morgan Stanley Reiterates on Diana Shipping Following 4Q13 Earnings Review

In a report published Wednesday, Morgan Stanley analyst Fotis Giannakoulis reiterated an Overweight rating on

, but lowered the price target from $15.50 to $14.50. In the report, Morgan Stanley noted, “We remain OW on DSX, but we reduce our PT to $14.5 from $15.5. We have lowered our 2014/15 EPS forecast to $(0.37)/$0.70 from $(0.32)/$0.79 mainly due to the dilutive effect of the recent preferred equity. We however remain OW with a $14.5 PT (from $15.5) as the stock is attractively valued at 106% NAV vs its peers that trade on average at ~135% NAV.” Diana Shipping closed on Tuesday at $12.47.