Market Overview

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

Share:
Related CMRE
Earnings Recap For March 9
Thursday's After-Hours Movers: NeoPhotonics, Quality Distribution And More

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

DateFirmActionFromTo
Jan 2016Credit SuisseReinstatesNeutral
Jan 2016BarclaysInitiates Coverage onEqual-weight
Dec 2015JP MorganInitiates Coverage onUnderweight

View More Analyst Ratings for CMRE
View the Latest Analyst Ratings

Posted-In: Euro Pacific CapitalAnalyst Color Initiation Analyst Ratings

 

Related Articles (CMRE)

View Comments and Join the Discussion!