Deutsche Bank Downgrades Diana Shipping To Hold, Reduces PT To $10
In a research report sent today to investors, Deutsche Bank analyst Amit Mehrotra maintained a Hold rating on Diana Shipping Inc (NYSE:DSX) with a price target of $10.00,
Mehrotra commented: “Despite our downgrade to Hold from Buy, we view Diana Shipping’s management team as one of the best stewards of shareholder capital within the Shipping industry. The company’s conservative balance sheet and staggered chartering strategy is the right way, in our opinion, to steer through the choppy waters of the dry bulk sector. But even they are not immune to a weak rate environment. As such our downgrade is driven largely by factors outside of the company’s control, i.e. demand-driven rate pressure and incremental supply from new orders, which DSX has been only a very small part of.”
According to TipRanks.com, 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 has a -13.6% average return when recommending DSX, and is ranked #3076 out of 3347 analysts.