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SBLK - Grindrod Shipping Is Still Worth Investing: About 35% Upside Potential
Star Bulk Carriers Corp.
Using the Baltic Dry Index and dry bulk freight rates, I estimate 4Q 2021 TCE per day of $23003 for Grindrod Shipping.
I value the stock is worth $34.50, about 35% upside potential at prices around $25.
According to GRIN’s strong cash generation with debt shrinking during 2021, the company’s liquidity and leverage conditions help the company to cover risks of surprise losses.