Star Bulk Carriers upgraded to Hold from Sell at DNB Markets

DNB Markets analyst Joergen Lian upgraded Star Bulk Carriers (SBLK) to Hold from Sell with a price target of $20.20, up from $19.30. The firm still sees downward pressure on Star Bulk’s rates and asset values due to the imbalance between China’s underlying raw materials demand and its imports. Still, it finds the share price “should be covered” even in the event of a 25% drop in asset values.