Seanergy Maritime Holdings Corp (SHIP) shows potential for a bullish outlook with a price target of $11, reflecting a 35% discount to its net asset value (NAV). The stock is currently undervalued, trading at a Forward P/E of 3.66, significantly below the industry average, and has a strong commitment to shareholder returns through dividends and buybacks. However, near-term volatility in Capesize charter rates and seasonal weakness in Q1/2025 may limit immediate upside momentum.