October 16, 2007 / 11:35 AM / 12 years ago

UPDATE 1-RESEARCH ALERT-Jefferies ups targets on bulk carriers

 (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 $)
                                         New           Old
 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)  

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below