B.Riley Reiterates Buy Rating on Seanergy Maritime (SHIP)

B.Riley analyst Liam Burke reiterated a Buy rating and $15.00 price target on Seanergy Maritime (NASDAQ: SHIP).

The analyst commented: "Seanergy Maritime Holdings Corp. operates a fleet of Capesize vessels that is seeing increasingly tight supply with a low order book and an aging fleet. With the slowing of the economy in China, sentiment on the dry bulkers remains lukewarm. We feel that with tight global vessel capacity, it does not require a significant increase in demand to drive strong operating leverage. Rates reflect not only the stable demand for major bulk commodities but also the disruption in the Red Sea, which has affected 20% of Seanergy’s fleet and extended voyages from 15 to 25 days. The company will get a boost to revenue in 2025 when it takes delivery of an additional Capesize vessel in 4Q25. Seanergy’s financial results not only reflect the benefits of its homogeneous fleet of Capesize vessels but also operations supported by a high-quality operating platform. We maintain our Buy rating and $15 PT."

For an analyst ratings summary and ratings history on Seanergy Maritime click here. For more ratings news on Seanergy Maritime click here.

Shares of Seanergy Maritime closed at $10.81 yesterday.

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• Petco Health and Wellness (WOOF) Misses Q1 EPS by 6c
• UBS Downgrades Bharat Heavy Electricals Ltd (BHEL:IN) to Neutral