Star Bulk Carriers reported ‘much better results’ than expected, Stifel says

Despite a challenging dry bulk market, Star Bulk reported “much better results” than the firm expected, the analyst tells investors. Ultimately, a strong rate environment should cause shares to re-rate, which the firm expects later this year, but in the meantime the firm believes management is adding value to shareholders. Stifel reiterated a Buy rating and $30 price target on the stock.