Analyst Christopher Combe labeled the owner at overweightin his first report on the Greek company.
Combe was drawn by the high contract coverage of thefleet, which sits at an average of eight years, and its favourable dividend.
Costamare’s yield of 7% compares well with peers, who arepaying between 5% and 15%, the analyst says.
“While the industry continues to suffer fromovercapacity challenges likely to extend well into 2014, the bulk of CMRE’sfleet is contractually covered through 2015 and beyond,” Combe wrote.
He
