Johnson Rice Initiates Coverage on Eagle Bulk Shipping (EGLE) with an Overweight

June 18, 2009 10:59 AM EDT

Johnson Rice initiates coverage on Eagle Bulk Shipping (Nasdaq: EGLE) with an Overweight rating. Price target $7.

Eagle Bulk Shipping Inc. is primarily engaged in the ocean transportation of a range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes.

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