Ultrapetrol Bahamas Ltd Coverage Initiated at Stifel Nicolaus (ULTR)
Stifel Nicolaus assumed coverage on shares of Ultrapetrol Bahamas Ltd (NASDAQ:ULTR) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $5.00 price target on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 44.93% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of Ultrapetrol (Bahamas) Limited (ULTR) with a Buy rating on the shares and a $5.00 target price. With record soy production driving river revenue and the contribution of additional vessels and higher day rates from the offshore oil field services segment, we believe ULTR is likely to see EBITDA nearly triple from 2012 levels. Furthermore, we believe demand will continue to grow for river barges and offshore supply vessels in South America. Given our view of Ultrapetrol’s strong balance sheet, we believe the company is well positioned to fund growth and see earnings and cash flows expand further.”
Ultrapetrol Bahamas Ltd (NASDAQ:ULTR) traded up 6.38% during mid-day trading on Tuesday, hitting $3.67. The stock had a trading volume of 93,955 shares. Ultrapetrol Bahamas Ltd has a 1-year low of $1.25 and a 1-year high of $3.76. The stock has a 50-day moving average of $3.5 and a 200-day moving average of $2.9. The company’s market cap is $515.3 million.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Ultrapetrol Bahamas Ltd from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 3rd. They now have a $4.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Ultrapetrol Bahamas Ltd from a “sell” rating to a “hold” rating in a research note to investors on Wednesday, September 11th. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Ultrapetrol Bahamas Ltd in a research note to investors on Thursday, August 15th. They now have a $4.00 price target on the stock, up previously from $3.50.
Ultrapetrol (NASDAQ:ULTR) Limited is an industrial shipping company serving the marine transportation needs of clients in the geographic markets.
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