Maxim Group analyst Tate Sullivan maintained a Buy rating on Top Ships Inc (TOPS) yesterday and set a price target of $0.50. The company’s shares closed last Monday at $6.47.
Sullivan said:
“We decrease our 2019 EBITDA forecast to $16.2M, from $16.4M, 2020E to $19M, from $19.9M and 2021E to $17.4M, from $18.1M based on the potential for higher costs related to maintenance expenses while TOPS’ vessels are periodically in shipyards, and higher security and insurance expenses.”
According to TipRanks.com, Sullivan is a 1-star analyst with an average return of -1.1% and a 47.5% success rate. Sullivan covers the Industrial Goods sector, focusing on stocks such as Envision Solar International Inc, Capstone Turbine Corp, and BioHiTech Global Inc.
Top Ships Inc has an analyst consensus of Moderate Buy, with a price target consensus of $0.50.
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The company has a one-year high of $7.76 and a one-year low of $0.30. Currently, Top Ships Inc has an average volume of 638.2K.
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Top Ships, Inc. is an international owner and operator of modern, fuel efficient eco medium range, or medium range tanker vessels. It focuses on the transportation of crude oil, petroleum products and bulk liquid chemicals. The company was founded by Evangelos J. Pistiolis on January 10, 2000 and is headquartered in Maroussi, Greece.
