Dry Bulk Sector On Fire as Analyst Upgrades 7 Shipping Stocks (DSX, EGLE, EXM, more)

May 19, 2009 11:03 AM EDT

An analyst at Dahlman Rose, a small research firm that specializes in the natural resources supply chain, and specifically marine transport, is moving the entire dry bulk shipping sector today. The Dahlman analyst upgraded 7 stocks in the sector today, causing dry bulk stocks which were not even upgraded to rise.

  • Diana Shipping (NYSE: DSX) from Hold to Buy. Up 5.1%
  • Eagle Bulk Shipping (Nasdaq: EGLE) from Hold to Buy. Up 7.3%
  • Genco Shipping (NYSE: GNK) from Hold to Buy. Up 7.4%
  • Paragon Shipping (Nasdaq: PRGN) from Hold to Buy. Up 10.9%
  • Safe Bulkers (NYSE: SB) from Hold to Buy. Up 11.1%
  • Star Bulk Carriers (Nasdaq: SBLK) from Hold to Buy. Up 15.5%
  • Excel Maritime (NYSE: EXM) from Sell to Hold. Up 4.7%
Elsewhere in the sector: DryShips (Nasdaq: DRYS) up 2.4%, Navios Maritime (NYSE: NM) up 6.7%, TBS International (Nasdaq: TBSI) up 9% and DHT Maritime (NYSE: DHT), which reported its Q1 results this morning, is up 4.3%.


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Upgrades

Stocks Mentioned

DHT 3.60

-0.09 -2.44%
Volume: 209,789
Track DHT

DRYS 6.17

+0.03 +0.49%
Volume: 9,793,780
Track DRYS

DSX 13.49

+0.04 +0.30%
Volume: 873,217
Track DSX

EGLE 4.69

-0.12 -2.49%
Volume: 1,524,098
Track EGLE

EXM 5.96

-0.14 -2.30%
Volume: 1,047,397
Track EXM

GNK 20.83

+0.68 +3.37%
Volume: 1,376,868
Track GNK

NM 5.20

-0.08 -1.52%
Volume: 904,146
Track NM

PRGN 4.16

+0.02 +0.48%
Volume: 387,192
Track PRGN

SB 7.06

+0.00 +0.00%
Volume: 95,827
Track SB

SBLK 3.23

-0.01 -0.31%
Volume: 132,942
Track SBLK

TBSI 8.19

-0.25 -2.96%
Volume: 216,082
Track TBSI


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