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Fly News Breaks for May 24, 2019
TOPS
May 24, 2019 | 09:03 EDT
Maxim analyst Tate Sullivan assumed TOP Ships with a Buy rating and a lowered price target to $1.00 from $2.50. The analyst notes that his 2019 and 2020 forecasts are below Maxim's prior estimates to reflect the potential of "unexpected ship downtime and higher operating costs." Sullivan still expects TOP Ships EBITDA to rise by 50% this year and 21% next year to reflect the impact of its two new ships in service.
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