FBR Capital Maintains an 'Outperform' on General Maritime (GMR); Imminent Recapitalization a Buying Opportunity
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Price: $0.16 --0%
Rating Summary:
1 Buy, 3 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
Rating Summary:
1 Buy, 3 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
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FBR Capital maintains an 'Outperform' on General Maritime (NYSE: GMR), PT $3.
FBR analyst says, "Our rating on GMR has been and remains predicated on a recapitalization. We believe that General Maritime is on the verge of a capital infusion and bank debt renegotiation that should fix its balance sheet. In our opinion, the company would not have delayed its 10-K filing unless it was close to announcing a significant recapitalization. We do not believe management is seeking any incremental financing beyond what is currently in the works and believe the final solution will preserve upside for the equity holders."
For more ratings news on General Maritime click here and for the rating history of General Maritime click here.
Shares of General Maritime closed at $2.50 yesterday.
FBR analyst says, "Our rating on GMR has been and remains predicated on a recapitalization. We believe that General Maritime is on the verge of a capital infusion and bank debt renegotiation that should fix its balance sheet. In our opinion, the company would not have delayed its 10-K filing unless it was close to announcing a significant recapitalization. We do not believe management is seeking any incremental financing beyond what is currently in the works and believe the final solution will preserve upside for the equity holders."
For more ratings news on General Maritime click here and for the rating history of General Maritime click here.
Shares of General Maritime closed at $2.50 yesterday.
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