B. Riley analyst Liam Burke downgraded Eagle Bulk Shipping (EGLE) to Neutral from Buy with a price target of $52.20, down from $72, after Star Bulk Carriers (SBLK) and Eagle Bulk announced that the companies have entered into a definitive agreement to combine in an all-stock merger.
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Read More on EGLE:
- M & A News: Star Bulk, Eagle Bulk Merge to Create a Shipping Powerhouse
- Star Bulk and Eagle Bulk Shipping to Combine, Creating a Global Leader in Dry Bulk Shipping
- Eagle Bulk Shipping price target lowered to $60 from $63 at Alliance Global
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