Stifel Reiterates Hold Rating on Atlas (ATCO) After Shipping Rates Offer Less Upside Than Expected

Stifel analyst Benjamin Nolan reiterated a Hold rating and $15.00 price target on Atlas (NYSE: ATCO) after the company announced earnings that came in below consensus estimates primarily due to lower-than-expected revenue from the shipping business.

The company did not experience as much upside from the rising rate environment as anticipated. Additionally, despite the strength of the container shipping market renewed charters on existing assets were not signed with large premiums to previous levels, consequently, the company did not increase revenue or cash flow guidance for the year.

For an analyst ratings summary and ratings history on Atlas click here. For more ratings news on Atlas click here.

Shares of Atlas closed at $14.25 yesterday.

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