David Beard of Iberia Capital reduced his target to $6.00 on the back of sell-off that saw the Greek bulker owner’s US-listed stock fall 40% on the heels of third quarter earnings.
In a note to clients the researcher defended his “outperform” rating as he believes “substantial upside” remains but, like many of his peers, doesn’t think there is a near-term catalyst to drive a jump in share price.
“Safe
