Imperial Capital Upgrades Overseas Shipholding Group (OSGIQ) to Outperform
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Price: $6.85 --0%
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 16 | New: 6
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 16 | New: 6
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Imperial Capital upgraded Overseas Shipholding Group (OTC: OSGIQ) from Underperform to Outperform with a price target of $7.00.
Analyst Andrew Casella said while Chapter 111 proceedings remain fluid, they think the recent disclosure on 3/17 in a docket filing (Docket #2668) that a small group of investors are willing to backstop a significant rights offering points to the increased likelihood that additional pre-petition equity holders may participate in the rights offering necessary to present a feasible and competitive alternative to the PSA put forth by the revolving credit lenders and supported by OSG managers.
Casella notes that the equity of OSG remains speculative given the Chapter 11 proceedings.
For an analyst ratings summary and ratings history on Overseas Shipholding Group click here. For more ratings news on Overseas Shipholding Group click here.
Shares of Overseas Shipholding Group closed at $5.23 yesterday.
Analyst Andrew Casella said while Chapter 111 proceedings remain fluid, they think the recent disclosure on 3/17 in a docket filing (Docket #2668) that a small group of investors are willing to backstop a significant rights offering points to the increased likelihood that additional pre-petition equity holders may participate in the rights offering necessary to present a feasible and competitive alternative to the PSA put forth by the revolving credit lenders and supported by OSG managers.
Casella notes that the equity of OSG remains speculative given the Chapter 11 proceedings.
For an analyst ratings summary and ratings history on Overseas Shipholding Group click here. For more ratings news on Overseas Shipholding Group click here.
Shares of Overseas Shipholding Group closed at $5.23 yesterday.
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