Wells Fargo Defends DryShips (DRYS); Use Dip As Buying Opportunity
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Price: $2.09 -7.11%
Rating Summary:
3 Buy, 6 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
3 Buy, 6 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade DRYS Now!
Wells Fargo maintains an 'Outperform' on DryShips (NASDAQ: DRYS).
Analyst Michael Webber, said, "...We expect shares to trade off this morning given the miss however, given a more normalized offshore earnings ramp in Q2Q3 (less offhire and mobilization), a firm offshore market, diminishing exposure to the softer dry bulk and tanker markets, and DRYS's significant discount to our NAV estimate of $4.45/share, and we believe today's weakness may provide a solid buying opportunity. While macroheadwinds may keep complete value recognition (i.e., NAV parity) off the table over the near term, we believe DRYS's current discount (49%) is toward the bottom end of its historical range, with even a reversion to the 2012 average (34%) presenting a trading opportunity."
For an analyst ratings summary and ratings history on DryShips click here. For more ratings news on DryShips click here.
Shares of DryShips closed at $2.29 yesterday, with a 52 week range of $1.75-$4.34.
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Analyst Michael Webber, said, "...We expect shares to trade off this morning given the miss however, given a more normalized offshore earnings ramp in Q2Q3 (less offhire and mobilization), a firm offshore market, diminishing exposure to the softer dry bulk and tanker markets, and DRYS's significant discount to our NAV estimate of $4.45/share, and we believe today's weakness may provide a solid buying opportunity. While macroheadwinds may keep complete value recognition (i.e., NAV parity) off the table over the near term, we believe DRYS's current discount (49%) is toward the bottom end of its historical range, with even a reversion to the 2012 average (34%) presenting a trading opportunity."
For an analyst ratings summary and ratings history on DryShips click here. For more ratings news on DryShips click here.
Shares of DryShips closed at $2.29 yesterday, with a 52 week range of $1.75-$4.34.
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