Costamare price target raised to $11 from $10 at Stifel

Stifel raised the firm’s price target on Costamare to $11 from $10 and keeps a Hold rating on the shares. In Q4, shipping equities and rates generally did well, the analyst tells investors. Further, issues at the Red Sea and Panama have tightened supplies, which should elongate ton miles, the firm adds. To Stifel, Product Tankers have the best supply-demand dynamics, with Dry Bulk following with a tight supply picture. Crude tankers follow behind with a great supply picture, but OPEC+ production cuts should “hurt,” the firm says. Stifel named Containers last, noting they are benefitting from the attacks in the Red Sea, but rates should be driven lower as new ships are delivered.