Wells Fargo Downgrades Costamare Inc. (CMRE) to Market Perform; Sidelined on Slowing Second Half

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Wells Fargo downgraded Costamare Inc. (NYSE: CMRE) from Outperform to Market Perform with a price target range $13-$15 (from $15-$17).

Analyst, Michael Webber, said, "While we believe CMRE's long-term fundamentals remain solid, we expect containership incrementals to slow in H2, with potential headwinds created by CMRE's larger Container Line customer base (falling freight rates) also helping to shift the stock's intermediate-term risk/reward profile from positive to neutral...We are modestly lowering our 2012/2013 EPS estimate to $1.32/$1.79 (from $1.33/$1.84)."

For an analyst ratings summary and ratings history on Costamare Inc. click here. For more ratings news on Costamare Inc. click here.

Shares of Costamare Inc. closed at $13.59 yesterday, with a 52 week range of $10.93-$17.81.

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