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Cleaves Securities Remains a Buy on Eagle Bulk Shipping (EGLE)

Cleaves Securities analyst Peter Christensen maintained a Buy rating on Eagle Bulk Shipping (EGLEResearch Report) on September 12 and set a price target of $71.00. The company’s shares closed yesterday at $46.85.

Christensen covers the Industrial Goods sector, focusing on stocks such as DHT Holdings, Diana Shipping, and Eagle Bulk Shipping. According to TipRanks, Christensen has an average return of 28.2% and a 70.37% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Eagle Bulk Shipping with a $76.00 average price target.

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EGLE market cap is currently $641.4M and has a P/E ratio of 2.42.

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Eagle Bulk Shipping, Inc. is a holding company, which engages in the ocean transportation of a broad range of dry bulk cargoes worldwide through the ownership, charter, and operation of dry bulk vessels. It operates Supramax and Handymax vessels that transport minor and major bulk cargoes, including iron ore, coal, grain, cement, and fertilizer. The company was founded by Sophocles N. Zoullas on March 23, 2005 and is headquartered in Stamford, CT.

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