UPDATE: Global Hunter Securities Initiates Coverage on Bulk Shipping (BALT) (SALT) (SBLK) (DHT) (NNA) (NAT) (TNP) (STNG) (GASS) (NVGS)

(Updated - January 6, 2015 11:09 AM EST)

Global Hunter Securities initiated coverage on bulk shipping. Analyst Charles Rupinski said he sees opportunity despite "choppy waters." Coverage was initiated on three sub-sectors of the bulk shipping -- tankers, dry bulk and LPG.

"In a volatile period for the group, we are on the lookout for opportunities, but we do note that while the companies under coverage have varying risk characteristics, we consider the bulk sector as a whole to be speculative in nature," said Rupinski.

"For the dry bulk sector, which has seen stock prices retreat dramatically over the last six months, we are initiating coverage of Baltic Trading Ltd. (Nasdaq: BALT), Scorpio Bulkers Inc. (Nasdaq: SALT) and Star Bulk Carriers Corp. (Nasdaq: SBLK) with Speculative Buy ratings. In our view, the dry bulk sector faces continued headwinds in 1H:15, but a combination of low valuation levels and what we believe to be the potential for an increase in capacity removal make it possible for an investor with a tolerance for risk to go long in these names, in our view," said the analyst.

"In tankers, we believe the crude tanker segment has the best supply/demand fundamentals of the bulk shipping group, and we initiate coverage of DHT Holdings, Inc. (NYSE: DHT), Navios Maritime Acquisition Corporation (NYSE: NNA), Nordic American Tankers Limited (NYSE: NAT) and Tsakos Energy Navigation Ltd. (NYSE: TNP) with Buy ratings. We have a more conservative view on product tankers, but we expect a solid rate environment," he continued. "We initiate on the pure play product tanker company Scorpio Tankers Inc. (Nasaq: STNG) with an Accumulate rating."

Rupinski added, "For the LPG segment, it has somewhat limited visibility due to commodity price expectations over the medium term but has traditionally been less volatile than other bulk markets. That said, we are initiating coverage of Stealthgas Inc. (Nasdaq: GASS) with a Speculative Buy rating and Navigator Holdings Ltd.
(Nasdaq: NVGS) with an Accumulate rating."

For an analyst ratings summary and ratings history on Baltic Trading Limited click here. For more ratings news on Baltic Trading Limited click here.

Shares of Baltic Trading Limited closed at $2.29 yesterday.

You May Also Be Interested In

• Amazon.com (AMZN) PT Raised to $215 at UBS
• Comcast Corp (CMCSA) PT Lowered to $48 at Pivotal Research
• Keurig Dr Pepper (KDP) PT Raised to $39 at Jefferies