Jefferies raised the firm’s price target on Star Bulk Carriers to $27 from $24 and keeps a Buy rating on the shares. Rising Red Sea diversions are having a significant impact on vessel capacity, which has been most felt in the container sector, but also increasingly seen across tankers, says the analyst, who anticipates record Q4 results from LPG players, sequentially stronger results for tankers and dry bulk, and steady earnings for LNG. While the firm previews weak results for containers, it sees this being coupled with improved guidance, the analyst added in a Shipping sector preview.
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Read More on SBLK:
- Star Bulk Carriers price target raised to $27 from $25 at Stifel
- Eagle Bulk Shipping downgraded to Hold from Buy at Stifel
- Red Sea attacks force rerouting of shipping vessels, Reuters reports
- Eagle Bulk Shipping could see ‘superior’ offer from other parties, says Stifel
- Eagle Bulk upside preserved in Star Bulk deal, says Alliance Global
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