Noble Financial Sticks to Their Buy Rating for Genco Shipping (GNK)

By Jason Carr

Noble Financial analyst Poe Fratt maintained a Buy rating on Genco Shipping (NYSE: GNK) yesterday. The company’s shares closed yesterday at $12.91.

According to TipRanks.com, Fratt is ranked #1439 out of 4897 analysts.

Currently, the analyst consensus on Genco Shipping is a Moderate Buy with an average price target of $22.50, representing a 74.3% upside. In a report issued on October 3, B.Riley FBR also initiated coverage with a Buy rating on the stock with a $22 price target.

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The company has a one-year high of $20.07 and a one-year low of $9.75. Currently, Genco Shipping has an average volume of 200.5K.

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Genco Shipping & Trading Ltd. operates as an international ship owning company. It engages in transporting iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels.