Deutsche Bank Reiterates Hold On Navios Maritime Partners; Reduces PT To $20

In a research report issued today, Deutsche Bank analyst Amit Mehrotra reiterated a Hold rating on Navios Maritime Partners (NYSE:NMM) and reduced his price target to $20 (from $23).

Mehrotra noted, “Our 2015 growth assumption is now +3.9% (down from 5.6%), 2016 +3.2% (down from 4.5%), and 2017 +2.8% (unchanged). The revisions have the effect of driving down demand growth below supply growth, which should in our view pressure fleet utilization and limit dry bulk vessel earnings potential. As such our 2015 and 2016 spot rate assumptions have been lowered by 30%, with a 15% cut to our 2017 estimates. While forecasting future rates is much more of an art than science (as we have learned the hard way), we believe our new assumptions more appropriately capture the headwinds and risks to dry bulk shippers we see over the next several years.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Amit Mehrotra has a total average return of -7.6% and a 17.6% success rate. Mehrotra is ranked #3076 out of 3347 analysts.

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