Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of dry-cargo shipper Navios Maritime Partners
So what: JPMorgan initiated coverage on Navios with an overweight rating and a price target of $20.50. That price target represents a healthy 47% premium over yesterday's closing price of $13.93, and still 28% higher than today's high so far of $15.97.
Now what: Navios trades relatively lightly with average volume of around 284,000 shares, compared to the average volume of fellow dry-bulk shippers like Dryships
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