Nomura Securities Starts Textainer Group Holdings (TGH) at Neutral; Waiting for the Right Time

Nomura Securities initiates coverage on Textainer Group Holdings (NYSE: TGH) with a Neutral. PT $27.00.

Nomura analyst, Bill Carcache, said, "TGH is the world’s largest container leasing company. Although we expect the company to deliver meaningful value to shareholders over time, we believe near-term macro-level risks are more heavily weighted to the downside. In particular, we see elevated risk to utilization rates, TEU fleet size and lease rates. Our FY’12 and FY’13 EPS ests are $3.72 and $3.96, respectively. Our px tgt implies ~6.8x NTM earnings and ~2.2x tangible book value."

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 $25.94 yesterday.

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