UPDATE: Morgan Stanley Upgrades Star Bulk Carriers (SBLK) to Overweight

(updated to add analyst comment)

Morgan Stanley upgraded Star Bulk Carriers (NASDAQ: SBLK) from Underweight to Overweight with a price target of $15.00 (from $3.00).

Analyst Fotis Giannakoulis lists his reasons for being bullish:

• Market gradually improving driven by rising commodity prices, solid Chinese demand and muted fleet supply.
• High operating and financial leverage provide meaningful upside upon anticipated 2018 recovery.
• One of the largest companies in the dry bulk sector make it the preferred trading vehicle among investors.
• Strong liquidity position and low cost structure allows it to further expand its fleet

For an analyst ratings summary and ratings history on Star Bulk Carriers click here. For more ratings news on Star Bulk Carriers click here.

Shares of Star Bulk Carriers closed at $10.12 yesterday.

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