Cantor Fitzgerald Reiterates Buy on DryShips (DRYS); Ups PT to $123
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Cantor Fitzgerald reiterates its Buy rating on DryShips (Nasdaq: DRYS) and raises its price target from $114 to $123.
The firm says that the dry bulk market is in "riot mode" and DryShips should benefit from the continuation of this trend. Following DryShips' Q1 earnings report after the close yesterday, Cantor raised its FY08 and FY09 EPS estimates from $18.40 and $15.49 to $18.94 and $15.88, respectively.
Cantor notes that DryShips currently has 42% of its operating days unfixed for the remainder of 2008, meaning that it will have plenty of room to capitalize on a strong dry bulk market. Lastly, the firm believes "the planned spin-off of the UDW segment could generate significant shareholder value."
DryShips, Inc. engages in the ownership and operation of drybulk carriers worldwide.
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Comments
50% retracement hit today
This company has great fundamentals, a spectacular PEG and the correction is overdone. We retraced 50% of the last up leg in just 6 days !!! This should bounce hard soon.
Price Drop for
If you will learn about options, you will understand this price drop. On May 16, 2008, some of the options expired. Some of those options required some investors to sell "DRYS" to other investors at a price that was below the market price on May 16, 2008. And then, the investors that received the lower priced "DRYS" immediately SOLD those "DRYS" back into the market for a profit. This is why the stock price dropped.
Explaination please
How is it that DRYS continue to drop, it should be hitting 52wk highs especially with Dry bulk index continuing to climb. Any one please?
Drys price drop
How can Dry Ships have three consecutive record breaking quarters and continually drop huge losses on the day of and the day after earnings are reported? Who is messing with the shareholders who own this stock? Talk about stock manipulation?
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response to DRYS questions
David on Jun 2, 2008 08:06 AMI have to think everyone of us have to be wondering the same when it comes to DRYS stock. It does not make sense to me!!!!! Somebody out there have the answer?