Globus Maritime price target lowered to $3 from $4 at Maxim

Maxim lowered the firm’s price target on Globus Maritime (GLBS) to $3 from $4 and keeps a Buy rating on the shares. The firm is anticipating less demand in the near term from China for dry bulk imports from smaller dry bulk ships as China prioritizes securing liquefied petroleum gas, oil, and refined product imports after the U.S. launched missiles against Iran, the analyst tells investors in a research note. Maxim is also reducing its Q1 book value per share forecast to $7.97, down 2.1% y/y, from $8.39, the firm added.