New York-listed owner Costamare Inc has drawn a ratings downgrade from investment bank Jefferies for its growing exposure to the dry bulk trade from its roots in the container ship sector.
Jefferies shipping analyst Omar Nokta took the Greek company to a “hold” from “buy” in a new client note that previews first-quarter earnings season for the 24 maritime companies under his coverage
Jefferies also reduced Costamare’s price target to $10 from $15.
