BTIG analyst Gregory Lewis raised the firm’s price target on Eagle Bulk Shipping to $70 from $60 and keeps a Buy rating on the shares. The analyst notes that while the Baltic Dry Index has "limped to the finish line" in 2022, he sees a significant rebound as activity picks up into the spring. Lewis adds that even in periods of weak freight rates, Eagle Bulk Shipping has had the flexibility to return cash to shareholders.
Published first on TheFly
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