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Fly News Breaks for March 28, 2017
SBLK
Mar 28, 2017 | 07:01 EDT
Morgan Stanley analyst Fortis Giannakoulis upgraded Star Bulk Carriers to Overweight from Underweight and raised its price target to $15 from $3. The analyst sees potential upside across the entire dry bulk shipping sector as long as steel prices remain high and fleet supply growth declines. As a result, Giannakoulis raised estimates and price targets across the dry bulk shipping sector and expects Star Bulk Carriers to trade at a premium given its higher market cap, low cost structure, and large Capesize exposure.
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