Euroseas initiated with a Buy at Alliance Global Partners

Alliance Global Partners initiated coverage of Euroseas with a Buy rating and $60 price target. The analyst believes Euroseas is undervalued and an attractive way to participate in the favorable feeder and intermediate container market fundamentals. While the stock price is up 37% this year, the current total enterprise value to EBITDA ratio of 2.7-times estimated 2024 EBITDA is attractive and the risk/reward profile is positively skewed, the analyst tells investors in a research note.