Matthew Waterman
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Matthew Waterman in Brand Power,

Analyst Estimates For Navios Maritime Expect 350% Upside

Another day, another good news report about the Baltic Dry Index and Navios Maritime Partners (NMM). The index continues to move upwards, now at 539 points this morning. Other shipping stocks are also up, including Navios Maritime Holdings (NM), up 11%, as well as Scorpio Bulkers (SALT) and Safe Bulkers (SB) both soaring over 13%.

Zacks has revised their rating upwards from sell to hold on Navios Maritime Partners, bringing another up day, on the tail end of a 25% increase over the last 3 trading days. But even more remarkable is that the average target price of all of the analysts covering the stock is $5.75/share before year end, which would mean a 350% increase over today's price. I'm personally even more bullish than that, but it's rare to see a consensus be so high.