Fearnley analyst Oystein Vaagen upgraded Star Bulk Carriers to Buy from Hold with a price target of $30, up from $22. 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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