Deutsche Bank Starts Diana Shipping (DSX) at Buy

Deutsche Bank initiated coverage on Diana Shipping (NYSE: DSX) with a Buy rating and a price target of $18.00.

Analyst Amit Mehrotra said, "We view management’s strategy of balancing visibility through fixed rate charters and optionality through spot rate exposure as prudent in a Dry Bulk market which has proved volatile. While this translates to less operating leverage and earnings growth in a rising rate environment, it also means more downside protection if rates fail to recover. We see this balance, coupled with low financial leverage, as good reasons for DSX to maintain its historical valuation premium to peers and which should drive significant upside in the stock."

For an analyst ratings summary and ratings history on Diana Shipping click here. For more ratings news on Diana Shipping click here.

Shares of Diana Shipping closed at $10.10 yesterday.

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