Noble Capital Upgrades Seanergy Maritime (SHIP) to Outperform

Noble Capital analyst Poe Fratt upgraded Seanergy Maritime (NASDAQ: SHIP) from Market Perform to Outperform with a price target of $1.80.

The analyst comments "While dilution from the equity offering was at the high end of the range, the current risk/reward profile is now favorable. The cape market remains uncertain, financial leverage is high, and dilution from the May equity offering was very high, but we believe that these negatives are discounted and the more than 80% drop in the stock price over the past month creates an attractive risk/reward profile with solid upside potential."

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 $0.59 yesterday.

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