Clarkson Capital Lowers PT To $1.25 On SBLK

Clarkson Capital, citing a 2Q loss from the company, has lowered its price target from $1.75 to $1.25 on Star Bulk Carriers SBLK, but is maintaining its Market Perform rating on the stock. In the report, Clarkson writes, “SBLK's adjusted 2Q loss per share was lower than our $0.07 loss estimate, benefiting from lower interest expense and a small gain on derivatives. 2Q operating results were essentially in-line on lower operating expense.” SBLK closed yesterday at $1.39.