Dahlamn Rose Reiterates Hold Rating on Freeseas Inc. (FREE)

Dahlamn Rose is out with a research report this morning, where it reiterates its Hold rating on Freeseas Inc. (NASDAQ: FREE).

The DR analysts cited the company's recent earnings report, which was ahead of estimates as the company continues its campaign of deleveraging and modernization.

The analysts noted that FreeSeas continues to modernize and deleverage its operations to ensure its ability to weather the downturn in the dry bulk market. However, they do not anticipate material strengthening in the dry bulk market until the 2014/2015 time frame.

As for valuation, the analysts remarked, “We maintain our Hold rating based on FreeSea's significant exposure to the dry bulk spot market.”