Deutsche Bank (DB) is beginning its coverage of Genco Shipping & Trading (GNK) with a buy rating.
Analyst Amit Mehrotra put a target price of $19 on the stock, against $15.50 currently.
The bank has a "continued positive stance on drybulk shipping rates" and a preference for companies with low leverage which presents the "opportunity to create value in the early innings of a market recovery," he said.
