Noble Financial Keeps Their Buy Rating on Genco Shipping (GNK)


In a report released yesterday, Poe Fratt from Noble Financial maintained a Buy rating on Genco Shipping (GNK), with a price target of $18. The company’s shares closed yesterday at $8.30, close to its 52-week low of $6.83.

According to TipRanks.com, Fratt is ranked #2408 out of 5181 analysts.

Genco Shipping has an analyst consensus of Strong Buy, with a price target consensus of $15.63, an 88.3% upside from current levels. In a report issued on May 9, Maxim Group also maintained a Buy rating on the stock with a $20 price target.

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Genco Shipping’s market cap is currently $345.8M and has a P/E ratio of 23.25. The company has a Price to Book ratio of 0.33.

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Genco Shipping & Trading Ltd. operates as an international ship owning company. It engages in transporting iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels.

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