EuroDry price target raised to $25 from $20 at Alliance Global

Alliance Global raised the firm’s price target on EuroDry (EDRY) to $25 from $20 and keeps a Buy rating on the shares. Q3 operating results were better than expected, with EBITDA beating the firm’s estimate due tot a combination of higher time charter equivalent revenue and shipping days, and lower costs, the analyst tells investors in a research note. The firm added the the “strong” report sets the stage for stronger Q4 results.