Alliance Global Partners analyst C. K. Poe Fratt initiated coverage of EuroDry with a Buy rating and $30 price target. The analyst believes the company is undervalued and an attractive way to participate in the favorable intermediate dry bulk market fundamentals. EuroDry will continue to trade at a discount to the peer group because of the current fleet profile, the limited public market float and high exposure to dry bulk market volatility due to spot charters and time charters with indexed rates, but there is upside into the $30 per share range, the analyst tells investors in a research note.
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Read More on EDRY:
- EuroDry reports Q3 adjusted EPS (24c) vs. $1.93 last year
- EuroDry Ltd. Reports Results for the Nine-Month Period and Quarter Ended September 30, 2023
- EuroDry Ltd. Announces Delivery of M/V Maria, an Eco Ultramax Drybulk Carrier
- EuroDry announces delivery of M/V Maria
- EuroDry Ltd. Sets Date for the Release of Third Quarter 2023 Results, Conference Call and Webcast
