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home / news releases / GRIN - Jefferies initiates coverage on Grindrod Shipping with buy recommendation

GRIN - Jefferies initiates coverage on Grindrod Shipping with buy recommendation

Grindrod Shipping Holdings Ltd.
Grindrod Shipping (NASDAQ:GRIN) shares surged ~10% Wednesday on ratings initiation by Jefferies Financial Group. Jefferies initiated coverage of Grindrod Shipping (GRIN) with a recommendation of buy. The brokerage assigned a $26 price target on the stock, implying a 11% increase from last price. Recently, GRIN was upgraded from a "d+" rating to a "c+" rating by research analysts at TheStreet. The shipping firm last reported its earnings on Feb 16. Q4 adj. EPS of $2.75 and revenue of $142.45M both surpassed Wall Street estimates. GRIN shares have climbed 230% over the past year and are +43.15% YTD Grindrod shares should see strong performance in 2022 from higher earnings and dividend visibility, writes SA columnist Sunrise Analysis in a bullish analysis on the stock.

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Jefferies initiates coverage on Grindrod Shipping with buy recommendation
Stock Information
Company Name: Grindrod Shipping Holdings Ltd.
Stock Symbol: GRIN
Market: NASDAQ
Website: grinshipping.com
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