Dahlman Rose Downgrades Several Dry Bulk Shippers to Hold (DSX, PRGN, EGLE, GNK, more..)

September 23, 2008 11:27 AM EDT

Dahlman Rose downgraded several dry bulk shipping names this morning:

from Buy to Hold:

  • Star Bulk (Nasdaq: SBLK)
  • Diana Shipping (NYSE: DSX)
  • Paragon Shipping (Nasdaq: PRGN)
  • Navios Maritime (NYSE: NM)
  • Genco Shipping (NYSE: GNK)
  • Eagle Bulk Shipping (Nasdaq: EGLE)
  • Safe Bulkers (NYSE: SB)
Despite crude oil which is moving lower this morning, these names are seeing substantial downside on the back of the sector-wide downgrade at Dahlman. Diana Shipping is currently down more than 7%, Eagle Bulk is down 8%, Star Bulk is down nearly 9%, Paragon is down more than 10% and Genco is down 9%.


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Stocks Mentioned

DSX 14.69

+0.55 +3.89%
Volume: 1,869,192
Track DSX

EGLE 7.69

-0.14 -1.79%
Volume: 2,204,423
Track EGLE

GNK 18.64

+0.44 +2.42%
Volume: 3,620,501
Track GNK

NM 4.08

+0.36 +9.68%
Volume: 3,723,994
Track NM

PRGN 6.12

+0.35 +6.07%
Volume: 573,331
Track PRGN

SB 8.66

+0.27 +3.22%
Volume: 161,774
Track SB

SBLK 3.13

+0.04 +1.29%
Volume: 653,040
Track SBLK


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