Alliance Global Partners reiterated a Buy rating and $60 price target on Eagle Bulk Shipping (EGLE) after the company agreed to be acquired by Star Bulk (SBLK). The firm said that, since the transaction is a share exchange, Eagle shareholders will retain the equity upside potential, and that the dividend policy will likely remain attractive to shareholders post closing. AGP added that other benefits to Eagle shareholders are that the deal comes at a “reasonable” premium and that it makes the stock more attractive to a broader group of investors.
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Read More on EGLE:
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- Eagle Bulk Shipping price target lowered to $60 from $63 at Alliance Global
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