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Genco Shipping upgraded to Buy from Hold at Fearnley
The Fly

Genco Shipping upgraded to Buy from Hold at Fearnley

Fearnley analyst Oys Vaagen upgraded Genco Shipping to Buy from Hold with a price target of $22, up from $15. As shipping equities price in a slight drop in asset values, current valuations "screen an opportune time to Buy," the analyst tells investors in a research note. The firm says strong dividend yields and its view that asset values has bottomed out create "solid optionality on an improving market."

Published first on TheFly

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