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Fly News Breaks for March 21, 2019
VALE, SHIP
Mar 21, 2019 | 08:33 EDT
Maxim analyst James Jang lowered his price target on Seanergy Marine (SHIP) to $10 after its Q4 results, saying that while earnings exceeded expectations, his rolled out model to 2021 NAV is also reducing his estimates. The analyst contends that the Vale (VALE) dam collapse will limit iron ore cargo shipments ex-Brazil in 2019 but sees those factors largely impacting only the first half of 2019. Longer term, Jang keeps his Buy rating and says his bullish thesis remains intact.
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