In a report released yesterday, Tate Sullivan from Maxim Group maintained a Buy rating on Euroseas (ESEA), with a price target of $1. The company’s shares opened today at $0.67, close to its 52-week low of $0.53.
Sullivan noted:
“We increase our revenue and EBITDA estimates after ESEA issued shares and used bank debt to purchase four ships.”
According to TipRanks.com, Sullivan is a 3-star analyst with an average return of 4.1% and a 58.8% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Recon Technology, and Emcor Group Inc.
Currently, the analyst consensus on Euroseas is a Moderate Buy with an average price target of $1.15, implying a 72.5% upside from current levels. In a report issued on May 29, Noble Financial also maintained a Buy rating on the stock with a $1.30 price target.
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The company has a one-year high of $3.87 and a one-year low of $0.53. Currently, Euroseas has an average volume of 126.9K.
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Euroseas Ltd. is a holding company, which engages in the provision of ocean-going transportation services. It operates containerships that transport dry and refrigerated containerized cargoes, mainly including manufactured products, and perishables.
