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Maxim Group Thinks Safe Bulkers’ Stock is Going to Recover


In a report released today, James Jang from Maxim Group reiterated a Buy rating on Safe Bulkers (SB), with a price target of $6. The company’s shares opened today at $2.49, close to its 52-week low of $2.31.

Jang commented:

“Safe Bulkers (SB) reported the strongest quarterly net revenue results ($48.5M) since 4Q13 as the Panamax sector benefited from an increase in seaborne coal demand.”

According to TipRanks.com, Jang is a 4-star analyst with an average return of 15.7% and a 47.8% success rate. Jang covers the Services sector, focusing on stocks such as Sino-Global Shipping America, Nordic American Tanker, and Eagle Bulk Shipping.

Currently, the analyst consensus on Safe Bulkers is a Moderate Buy with an average price target of $6.

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The company has a one-year high of $4.00 and a one-year low of $2.31. Currently, Safe Bulkers has an average volume of 299K.

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Safe Bulkers, Inc. operates as a holding company, which engages through its subsidiaries in marine transportation services. The company provides marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the users of such services.