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Excel Maritime Carriers, Ltd. (EXMCQ) [hlAlert]

down 99.87 %

Excel Maritime Carriers, Ltd. (EXM) upgraded to Outperform with price target $8 by Oppenheimer

Posted on: Friday,  May 7, 2010  8:25 AM ET by Oppenheimer

Oppenheimer rated Outperform Excel Maritime Carriers, Ltd. (OTCBB: EXMCQ) on 05/07/2010. Previously Oppenheimer rated Perform
Excel Maritime Carriers, Ltd. (OTCBB: EXMCQ) on 10/02/2008., when the stock price was $14.98. Since then, Excel Maritime Carriers, Ltd. has lost 60.15% as of 05/07/2010's recent price of $5.97.

Excel Maritime Carriers Ltd. (Excel) is a provider of worldwide sea borne transportation services for dry bulk cargo, including among others, iron ore, coal and grain, collectively referred to as major bulks, and steel products, fertilizers, cement, bauxite, sugar and scrap metal, collectively referred to as minor bulks. Excel?s fleet is managed by one of its wholly owned subsidiaries, Maryville Maritime Inc. (Maryville). As of April 27, 2009, the Company owned a fleet of 40 vessels, and together with seven Panamax vessels under bareboat charters, operates 47 vessels, five Capesize, 14 Kamsarmax, 21 Panamax, two Supramax and five Handymax, with a total carrying capacity of approximately 3.9 million deadweight tons (dwt). On April 15, 2008, the Company completed its acquisition of Quintana Maritime Limited (Quintana). As a result of the acquisition, Quintana operates as a wholly owned subsidiary of Excel under the name Bird.

OppenheimerFunds, Inc. has been helping investors achieve their financial goals since 1960. We are one of the nation's largest and most respected asset management companies. At OppenheimerFunds, we believe that in order for you to reach your financial goals, your investments must perform. That is why investment excellence—over the long term and across the range of our products—is our highest priority. OppenheimerFunds and its controlled affiliates offer a broad range of products and services to individuals, corporations and institutions, including mutual funds, separately managed accounts, investment management for institutions, hedge fund products, qualified retirement plans and subadvisory investment-management services.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
5/7/2010 8:25 AM Buy
5.97 8.00
as of 1/1/0001
1 Week   
1 Month   
3 Months   
1 YTD   
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/2/2008 8:25 AM None
10/24/2007 9:25 AM Hold

(*) Stock Price at the time of the recommendation.
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