UBS Maintains a 'Neutral' on Paragon Shipping (PRGN); Factoring in Additional Risk
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Price: $0.73 --0%
Rating Summary:
4 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
4 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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UBS maintains a 'Neutral' on Paragon Shipping Inc. (NYSE: PRGN) price target lowered from $1.27 to $0.80.
UBS analyst says, "Following Paragon’s announcement of three new charters and its Q3 earnings release during the past couple weeks, it’s become apparent to us that our previous forecasts now look too optimistic. Our Q4/11 EPS estimate drops from ($0.02) to ($0.03), FY2012 from ($0.07) to ($0.16), and FY2013 from $0.07 to ($0.06)."
"We maintain our rating and do not view the stock as attractive given ongoing
deterioration at the industry and company level and increased liquidity risk. As a result we’re dropping our price target from $1.27 to $0.80, which equates to a 13% discount to our projected average net asset value over the next four quarters."
For an analyst ratings summary and ratings history on Paragon Shipping Inc. click here. For more ratings news on Paragon Shipping Inc. click here.
Shares of Paragon Shipping Inc. closed at $0.76 yesterday.
UBS analyst says, "Following Paragon’s announcement of three new charters and its Q3 earnings release during the past couple weeks, it’s become apparent to us that our previous forecasts now look too optimistic. Our Q4/11 EPS estimate drops from ($0.02) to ($0.03), FY2012 from ($0.07) to ($0.16), and FY2013 from $0.07 to ($0.06)."
"We maintain our rating and do not view the stock as attractive given ongoing
deterioration at the industry and company level and increased liquidity risk. As a result we’re dropping our price target from $1.27 to $0.80, which equates to a 13% discount to our projected average net asset value over the next four quarters."
For an analyst ratings summary and ratings history on Paragon Shipping Inc. click here. For more ratings news on Paragon Shipping Inc. click here.
Shares of Paragon Shipping Inc. closed at $0.76 yesterday.
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