(Changes source, adds details)
Oct 16 (Reuters) - Jefferies & Co raised the price targets on several shipping companies, saying the outlook for the dry bulk shipping market remains attractive as significant quantities of new iron ore production capacity come on-line over the next 12 months.
The brokerage said in a research note it expects an increase in charter rate.
Jefferies maintained its “buy” rating on all the stocks.
Following are the companies on which the brokerage raised its price targets:
COMPANY NAME RIC PRICE TARGET (In $)
DryShips (DRYS.O) 160 108
Diana Shipping (DSX.N) 44 35
Eagle Bulk Shipping (EGLE.O) 39 36
Excel Maritime Carriers EXM.N 92 57
Genco Shipping & Trading (GNK.N) 93 82
Quintana Maritime QMAR.O 31 24
TBS International TBSI.O 72 47 (Reporting by Neha Pathania in Bangalore)