In a late breaking email alert Benjamin Nolan of Stifel urged clients to accumulate shares of the Athens-based bulker owners, which are listed on the New York and Nasdaq Stock Exchanges and now carry the US investment bank’s “buy” rating.
The forecaster noted that freight rates for capesize bulkers in both the spot and period markets have skyrocketed in recent days, a trend he attributed to the decline of iron ore prices, and said he believes this has “hastened” the recovery in the drybulk market.
Nolan
