Costamare price target lowered to $12 from $13 at Stifel

Stifel analyst Benjamin Nolan lowered the firm’s price target on Costamare (CMRE) to $12 from $13 and keeps a Hold rating on the shares following what the firm describes as “a decent, although largely uneventful quarter.” However, the firm is taking down estimates given the reduced size of the charter in platform and higher depreciation and interest expense than it was previously modeling.