Scorpio Bulkers (SALT) Gets a Buy Rating from B.Riley FBR


B.Riley FBR analyst Liam Burke maintained a Buy rating on Scorpio Bulkers (SALT) yesterday and set a price target of $40.00. The company’s shares closed last Tuesday at $16.62, close to its 52-week low of $16.46.

According to TipRanks.com, Burke ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -9.0% and a 38.0% success rate. Burke covers the Industrial Goods sector, focusing on stocks such as Matthews International, LiqTech International, and Koppers Holdings.

Currently, the analyst consensus on Scorpio Bulkers is a Strong Buy with an average price target of $38.67, implying a 121.0% upside from current levels. In a report issued on April 26, Cleaves Securities also maintained a Buy rating on the stock with a $40.00 price target.

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The company has a one-year high of $77.80 and a one-year low of $16.46. Currently, Scorpio Bulkers has an average volume of 114.2K.

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Scorpio Bulkers, Inc. engages in the provision of ocean transportation of dry bulk cargoes worldwide through the ownership and operation of dry bulk carrier vessels. It operates through the Ultramax Operations and Kamsarmax Operations segments. The Ultramax Operations segment includes vessels ranging from approximately 60,200 dwt to 64,000 dwt. The Kamsarmax Operations segment deals with essels ranging from approximately 82,000 dwt to 84,000 dwt. The company was founded by Emanuele A. Lauro and Robert L. Bugbee on March 20, 2013 and is headquartered in Monaco.

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