From Cantor Report: “ Cantor/DRYS: We Upgrade DRYS To BUY (From HOLD) On Valuation, Rig Exposure * We raise our price target to $8 (from $7) based on our 7.0x EV/EBITDA multiple to our new 2010 EBITDA forecast of $558 million (from $544 million). Given the discrepancy between our target and the current stock price, […]
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DryShips
I noticed an unusual rally in DryShips (DRYS) today, which closed up an astonishing 13.6%. At first I attributed this advance to positive sentiment stemming from better than anticipated new home sales, coupled with speculation over the company’s earnings data and a higher BDI, but after looking at the performance of the rest of the […]