Safe buy name, safe by nature, declared analysts at Stifel as the bank took up coverage of New York-listed Safe Bulkers.

Continuing the theme, analyst Ben Nolan presented an initial hold rating on the Polys Hajioannou and Loukas Barmparis led company.

“While we believe it is a little early for lasting dry bulk recovery, shrinking supply and better than expected demand make the possibility of a 2018 recovery somewhat more feasible,” Nolan said.