Cantor Fitzgerald Downgrades General Maritime Corp (GMR) to Hold; Weak Tanker Market Weighs Heavily
Tweet Send to a FriendGet Alerts GMR Hot Sheet
Rating Summary:
1 Buy, 5 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Cantor Fitzgerald downgrades General Maritime Corporation (NYSE: GMR) from Buy to Hold. PT lowered from $7 to $5.
Cantor analyst says, "We lower our 2010 EPS and EBITDA forecasts to ($0.81) (from ($0.47)) and $120 million (from $145 million, respectively. We generally maintain our 2011 EPS forecast of ($0.13) and EBITDA estimate of $198 million. Our new estimates are based upon our revised tanker rate forecast and outlook...While we suggest General Maritime's experienced management team and large, modern and diverse fleet are attractive, we believe the company's high spot exposure could negatively impact earnings in the near-term if the current depressed tanker market environment persists."
To see all the upgrades/downgrades on shares of GMR, visit our Analyst Ratings page.
The 52-wk trading range is $4.05 - 8.95 and shares finished at $4.07 last week.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: JPMorgan Cuts SodaStream (SODA) to Neutral, 'Stock No Longer Cheap'
- Goldman Sachs Downgrades Aixtron (AIXG) to Neutral
- Deutsche Bank Upgrades Seagate (STX) to Buy; Sanmina (SANM) Cut to Sell, Flextronics (FLEX) & Fabrinet (FN) Cut to Hold
Create E-mail Alert Related Categories
DowngradesRelated Entities
Cantor Fitzgerald, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
