Noble Capital raises outlook on containership owner Euroseas

Noble Capital Markets has raised its outlook on Greek boxship owner Euroseas based on strong market fundamentals, solid charter coverage and abundant cash flow.

The US-based financial services firm has lifted its price target on the New York-listed stock to $45 from $35, while maintaining an outperform rating on the shares.

Euroseas' shares, which trade on the Nasdaq stock market under the ticker symbol ESEA, declined 3.5%