Dahlman Rose Downgrades TBS International Plc (TBSI) to Sell; Remains in Violation of Covenants
TBSI Hot Sheet
Rating Summary:0 Buy, 1 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Dahlman Rose downgraded TBS International Plc (NASDAQ: TBSI) to Sell with a price target of $0.25.
Dahlman analyst says, "While the company has taken several measures to shore up liquidity, including the sale of three vessels since the end of the quarter for total proceeds of $16MM, we do not believe TBSI will be able to bring itself into compliance with its debt covenants. We are reducing our rating."
For an analyst ratings summary and ratings history on TBS International Plc click here. For more ratings news on TBS International Plc click here.
Shares of TBS International Plc closed at $0.70 yesterday, with a 52 week range of $0.65-$4.55.
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Dahlman analyst says, "While the company has taken several measures to shore up liquidity, including the sale of three vessels since the end of the quarter for total proceeds of $16MM, we do not believe TBSI will be able to bring itself into compliance with its debt covenants. We are reducing our rating."
For an analyst ratings summary and ratings history on TBS International Plc click here. For more ratings news on TBS International Plc click here.
Shares of TBS International Plc closed at $0.70 yesterday, with a 52 week range of $0.65-$4.55.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
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