Stifel Downgrades Eagle Bulk Shipping to Hold, Raises Price Target to $55
Portfolio Pulse from Benzinga Newsdesk
Stifel analyst Benjamin Nolan has downgraded Eagle Bulk Shipping (NYSE:EGLE) from Buy to Hold while increasing the price target from $54 to $55. This reflects a more cautious stance on the stock while acknowledging some potential for upside.
January 26, 2024 | 10:45 am
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NEUTRAL IMPACT
Eagle Bulk Shipping was downgraded by Stifel from Buy to Hold, although the price target was raised from $54 to $55, indicating a limited upside potential.
The downgrade to Hold suggests that Stifel believes Eagle Bulk Shipping's stock may not have much room for growth in the short term, which could lead to a neutral impact on the stock price. However, the increase in the price target implies a slight optimism for some upside, which may balance out any negative sentiment from the downgrade.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100