Wells Fargo Defends DryShips (DRYS); Use Dip As Buying Opportunity
Tweet
Share
E-mailGet Alerts DRYS Hot Sheet
Price: $5.24 --0%
Rating Summary:
3 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Wells Fargo maintains an 'Outperform' on DryShips (NASDAQ: DRYS).
Analyst Michael Webber, said, "...We expect shares to trade off this morning given the miss however, given a more normalized offshore earnings ramp in Q2Q3 (less offhire and mobilization), a firm offshore market, diminishing exposure to the softer dry bulk and tanker markets, and DRYS's significant discount to our NAV estimate of $4.45/share, and we believe today's weakness may provide a solid buying opportunity. While macroheadwinds may keep complete value recognition (i.e., NAV parity) off the table over the near term, we believe DRYS's current discount (49%) is toward the bottom end of its historical range, with even a reversion to the 2012 average (34%) presenting a trading opportunity."
For an analyst ratings summary and ratings history on DryShips click here. For more ratings news on DryShips click here.
Shares of DryShips closed at $2.29 yesterday.
Analyst Michael Webber, said, "...We expect shares to trade off this morning given the miss however, given a more normalized offshore earnings ramp in Q2Q3 (less offhire and mobilization), a firm offshore market, diminishing exposure to the softer dry bulk and tanker markets, and DRYS's significant discount to our NAV estimate of $4.45/share, and we believe today's weakness may provide a solid buying opportunity. While macroheadwinds may keep complete value recognition (i.e., NAV parity) off the table over the near term, we believe DRYS's current discount (49%) is toward the bottom end of its historical range, with even a reversion to the 2012 average (34%) presenting a trading opportunity."
For an analyst ratings summary and ratings history on DryShips click here. For more ratings news on DryShips click here.
Shares of DryShips closed at $2.29 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
- Diana Shipping withdraws bid to acquire Genco Shipping
- Optimum Communications gets NYSE non-compliance notice over stock price
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Earnings, Wells FargoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
