JP Morgan Maintains Overweight, $20.50 PT on Navios Maritime
JP Morgan reiterates its Overweight rating and $20.50 price target on Navios Maritime (NYSE: NMM) on continued support for the company's high-end yield and following an in-line Q4 results.
JP Morgan says, "NMM units continue to offer attractive 11% yield supported by our unchanged DPU estimates, high-end TC coverage, and a modest cash flow upgrade. We see scope for distribution upside given more than ample coverage and potential fleet expansion in what is a buyer's market."
NMM closed at $16.15 a share on Monday.
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