On Tuesday the investment bank upgraded the duo to “neutral” from “sell” in response to the sell-off that has battered many New York and Nasdaq-quoted shipping stocks.
The recommendation may come as a surprise to Platou’s clients because, prior to today’s revision, its shipping team downgraded the ratings of both bulker operators.
In an earnings preview published prior to the upgrade the firm acknowledged that the “sell” stamps followed a recent overhaul of its freight rate forecast for 2015 and 2016.
Platou’s
