Stifel Reiterates Buy Rating on Navigator Holdings Ltd. (NVGS)

Stifel analyst Benjamin J. Nolan reiterated a Buy rating and $21.00 price target on Navigator Holdings Ltd. (NYSE: NVGS).

The analyst commented, “Navigator's 4Q results beat expectations despite limited ethylene arbitrage opportunities and softness in the larger LPG shipping category as the handysize vessels proved resilient. There has been some recent improvement in ethylene margins which could be well-timed with the terminal expansion now complete.”

Also, “We expect rates are likely to remain firm, particularly for ethylene vessels, which should benefit the company as they continue expanding that portion of their business."

And "With shares trading at only 5x EV/EBITDA, and given our expectation for EBITDA to grow with the addition of new ships and the expanded terminal, we believe NVGS shares attractive and expect a gradual grind higher in valuation.”

For an analyst ratings summary and ratings history on Navigator Holdings Ltd. click here. For more ratings news on Navigator Holdings Ltd. click here.

Shares of Navigator Holdings Ltd. closed at $13.87 yesterday.

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