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 7.63

+0.04 +0.53%
Volume: 1,059,831
Track DSX

EGLE 3.27

-0.12 -3.54%
Volume: 1,455,825
Track EGLE

GNK 7.08

+0.23 +3.36%
Volume: 1,639,012
Track GNK

NM 1.92

+0.18 +10.34%
Volume: 977,295
Track NM

PRGN 3.53

-0.45 -11.31%
Volume: 361,935
Track PRGN

SB 3.98

+0.15 +3.92%
Volume: 106,018
Track SB

SBLK 1.89

-0.22 -10.43%
Volume: 318,956
Track SBLK


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