UPDATE: Nomura Securities Downgrades Textainer Group Holdings (TGH) to Neutral

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(Updated - August 21, 2012 8:20 AM EDT)

Nomura Securities downgraded Textainer Group Holdings (NYSE: TGH) from Buy to Neutral. PT lowered from $42 to $39.

Analyst, Bill Carcache, said, "Downgrading based on our view that a slowing industry growth outlook brings the risk vs. reward of owning shares more into balance. The combination of (1) weaker container demand fueled by uncertainty among shippers over whether recent freight rate increases will stick, (2) a slowdown in anticipated capex spending for 2H12, and (3) softening container throughput growth in China, the rest of Asia, and Europe lead us to believe upside will be limited for the remainder of 2012. Our revised target price value is based on ~9.5x our estimate of 2013 earnings."

For an analyst ratings summary and ratings history on Textainer Group Holdings click here. For more ratings news on Textainer Group Holdings click here.

Shares of Textainer Group Holdings closed at $38.55 yesterday, with a 52 week range of $19.55-$39.35.

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