Credit Suisse Lifts Estimates and Price Target On Danaos Corporation (DAC)

Credit Suisse raised estimates and its price target on Outperform-rated Danaos (NYSE: DAC).

2012 and 2013 EPS estimates go from $0.60 to $0.64 and from $0.86 to $1.00 respectively. The price target goes from $6 to $10.

While the firm sees a near-term pause in containership time charter rates, they said the long-term fundamentals look compelling.

The firm likes Danaos after its recently completed restructuring and its steep discount to the peer group.

For more ratings news on Danaos click here and for the rating history of Danaos click here.

Shares of Danaos closed at $6.56 yesterday.

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