Jefferies downgraded Eagle Bulk Shipping (EGLE) to Hold from Buy with an unchanged price target of $55. Red Sea diversions are on the rise and are having a significant impact on vessel capacity, the analyst tells investors in a research note. The firm anticipates record Q4 results from liquefied petroleum gas players, sequentially stronger results for tankers and dry bulk, steady earnings for liquified natural gas and weak results for containers “though coupled with improved guidance.” Jefferies says Eagle Bulk shares appear to fully-price in the all-stock merger offer from Star Bulk Carriers (SBLK).
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