Star Bulk Carriers initiated with a Buy at Deutsche Bank

Deutsche Bank analyst Chris Robertson initiated coverage of Star Bulk Carriers with a Buy rating and $26 price target. Star Bulk recently completed an all-stock merger with Eagle Bulk and now has 161 on-the-water assets, making it the largest U.S. publicly listed dry bulk company by fleet size, the analyst noted. Star Bulk has “one of the strongest balance sheets of any public shipping company” and its dividend policy is a “sector-leading example of prudent capital management which rewards shareholders across the cycle,” added the analyst.