Shipping Stocks: DryShips Upgraded

DryShips leads the dry bulk shippers higher after Oppenheimer upgrades the stock.
Author:
Publish date:

Updated from 10:59 a.m. EDT

DryShips

(DRYS) - Get Report

led the dry bulk shippers higher Friday after Oppenheimer upgraded the stock.

Oppenheimer raised its rating on Athens, Greece-based DryShips to Outperform from Perform, contending that the stock will see little further dilution now that it has completed its

latest offering

. Shares rose 29.2% to $7.17.

var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 19980439001; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);

Other dry bulk shippers followed suit:

Diana Shipping

(DSX) - Get Report

rose 5.2% to $15.13.

Eagle Bulk

(EGLE) - Get Report

rose 12.4% to $6.89.

Genco

(GNK) - Get Report

rose 15.9% to $19.08.

Excel Maritime

(EXM)

rose 8% to $7.54.

Navios Maritime

(NM) - Get Report

rose 13.7% to $3.49.