B Riley FBR has rolled out more coverage in the shipping sphere – this time in the dry cargo sector – with bullish calls on three well-known names: Eagle Bulk, Scorpio Bulkers and Genco Shipping & Trading.
Recently hired equity analyst Liam Burke has ‘buy’ recommendations on all three names with price targets of $8.50, $9.50 and $22.00 respectively.
“The underlying demand for commodities continues to grow steadily while existing capacity remains relatively tight with an aging industry fleet,” said Burke.
