Stifel raised the firm’s price target on Star Bulk Carriers to $27 from $25 and keeps a Buy rating on the shares. In Q4, shipping equities and rates generally did well, the analyst tells investors. Further, issues at the Red Sea and Panama have tightened supplies, which should elongate ton miles, the firm adds. To Stifel, Product Tankers have the best supply-demand dynamics, with Dry Bulk following with a tight supply picture. Crude tankers follow behind with a great supply picture, but OPEC+ production cuts should “hurt,” the firm says. Stifel named Containers last, noting they are benefitting from the attacks in the Red Sea, but rates should be driven lower as new ships are delivered.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SBLK:
- Red Sea attacks force rerouting of shipping vessels, Reuters reports
- Eagle Bulk Shipping could see ‘superior’ offer from other parties, says Stifel
- Eagle Bulk upside preserved in Star Bulk deal, says Alliance Global
- Eagle Bulk upside preserved in Star Bulk deal, says AGPStar Bulk Carriers
- Stifel expects Star Bulk, Eagle Bulk to trade up on the open after deal news