Deutsche Bank Increases Estimates On Diana Shipping

In a recent report, Deutsche Bank has increased EPS estimates on Diana Shipping (NYSE: DSX) after last week's announcement that of DSX's acquisition of the TBN Arethusa, a 2007, 73,593 dwt built Panamax. Deutsche Bank has increased the EPS estimates from $1.34 to $1.36 but has maintained a price target of $15.00.

In the report, Deutsche Bank said, "With a purchase price of $29.99 million, the acquisition seems to be at a discount to current broker estimates. Clarksons estimates a five-year old, 74,000 dwt Panamax has a value of $34 million while the Baltic Sale & Purchase Assessment is currently at $32.4 million for a five-year old."

Diana Shipping closed yesterday at $11.14.