UPDATE: Deutsche Bank Initiates Coverage On Star Bulk Carriers On Mixed Factors

In a report published Monday, Deutsche Bank analyst Amit Mehrotra initiated coverage on Star Bulk Carriers Corp. (NASDAQ: SBLK) with a Hold rating and $8.00 price target.

In the report, Deutsche Bank noted, “We are initiating coverage on shares of Star Bulk with a Hold rating and $8 price target. The company's capable and experienced management team is not enough in our view to counter the accelerating headwinds in dry bulk, where we believe an over-reliance on imports into China and India, low barriers to entry, and weak supply discipline will create headwinds for shippers for at least the next two years. While we don't forecast a drop in spot rates from current low levels (on ytd average basis), we believe the fundamental headwinds mentioned above will limit much upside from here. Initiate Hold.”

Star Bulk Carriers closed on Friday at $7.05.