
EuroDry is initiated at Strong Buy with a $55 12-month price target, following its strongest quarter in four years. EDRY's Q2 net revenues surged 57% YoY, with fleet TCE at $20,398/day and breakeven at $12,872, supporting robust cash generation. Fleet market value is estimated near $240M, implying NAV above $60/share versus a $36.57 close; buybacks continue as the sole return channel.










