Pareto Securities has upgraded shares in two prominent bulker owners as it identified light at the end of tunnel for the depressed market.
John Fredriksen’s Golden Ocean and Petros Pappas and Oaktree-backed Star Bulk were raised to buy from hold in a report today.
At the same time, Simeon Palios-led Diana Shipping was downgraded from hold to sell.
“Following Star Bulk’s recent equity issue, all the pure play listed dry bulk names in our coverage space have restructured except for Diana Shipping,” said analysts Eirik Haavaldsen and Oystein Dalby.
“We
