Costamare downgraded to Hold from Buy at Jefferies

Jefferies downgraded Costamare to Hold from Buy with a price target of $10, down from $15. The analyst cites the company’s "growing speculative exposure into dry bulk" for the downgrade. Container liners are likely to report much lower sequential and year-over-year earnings due to weak rates, the analyst tells investors in a research note. Dry bulkers are expected to report softer sequential and year-over-year earnings with an eye on improvement during the second half of 2023, adds the firm.