Stifel downgraded Eagle Bulk Shipping (EGLE) to Hold from Buy with a price target of $55, up from $54. Given the window to shop Eagle Bulk to other investors has passed, the merger with Star Bulk (SBLK) will occur, the analyst tells investors in a research note. The firm says Eagle Bulk shareholders will receive 2.6211 shares of Star Bulk , which, at $21, works out to $55 per share.
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