Nomura Securities Upgrades Textainer Group Holdings (TGH) to Buy; More Bullish on Container Leasing Space & Outlook

Nomura Securities upgraded Textainer Group Holdings (NYSE: TGH) from Neutral to Buy, price target raised from $27 to $38.

Analyst, Bill Carcache, said, "We’re upgrading TGH shares and are raising our price target on a better-than-previously-expected 2012 outlook for the container leasing space...Our review of the latest market trends suggests that while supply and demand conditions are not as favorable as they were in 2011, they remain attractive. In this kind of environment, we expect container leasing companies that have invested heavily in their fleets to outperform as their core assets continue to enjoy high utilization."

"We’re raising our 2012 / 2013 EPS estimates for TGH to $3.79 / $4.02 (from $3.77 / $3.97), respectively."

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 $31.79 yesterday.

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