Market Overview

UPDATE: Euro Pacific Capital Initiates Coverage on Costamare with Buy Rating, $16 PT

Related CMRE
3 Companies To Watch With Greek Elections In Focus
Stocks Hitting 52-Week Lows

In a report published Wednesday, Euro Pacific Capital initiated coverage on Costamare (NYSE: CMRE) with a Buy rating and $16.00 price target.

Euro Pacific Capital noted, “We are initiating coverage of Costamare (CMRE) with a BUY rating and a price target of $16.00. CMRE leases container ships to leading container operators under fixed rate contracts with varying maturities equating to a weighted average charter length of 5.4 years. CMRE operates a fleet of 47 vessels with 10 newbuildings to be delivered starting in 1Q13 through 1Q14. Our favorable rating on the stock is based on a gradually improving charter rate environment, strong exposure to the faster growing emerging market segments, a flexible balance sheet and a likely rising dividend profile. We believe the stock will benefit from improving demand/supply fundamentals in the small to mid-sized vessel containership segment.”

Costamare closed on Tuesday at $13.90.

Latest Ratings for CMRE

Feb 2015Global HunterInitiates Coverage on
Sep 2014Clarkson CapitalInitiates Coverage onBuy
Jul 2014BarclaysMaintainsOverweight

View More Analyst Ratings for CMRE
View the Latest Analyst Ratings

Posted-In: Euro Pacific CapitalAnalyst Color Initiation Analyst Ratings


Related Articles (CMRE)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→