UPDATE: Global Hunter Securities Starts CAI International (CAP) at Accumulate; Attractive Valuation
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Price: $7.95 --0%
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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(Updated - June 14, 2012 8:43 AM EDT)
Global Hunter Securities initiates coverage on CAI International (NYSE: CAP) with an Accumulate. PT $21.00.
Analyst, Joe Giamichael, said, "As one of several public container leasing companies, we believe that CAI International represents the best opportunity in the group as it relates to current valuation, leverage ratio, fleet expansion and earnings growth. Industry trends continue to favor container leasing companies relative to shippers and container investment groups, as shippers seek financial flexibility due to existing leverage, weak day rates and relatively high fuel costs, while the container investment industry, largely a bank-funded German enterprise, has been at a standstill due to European credit conditions. We foresee an operating environment where CAI will be able to expand its company-owned fleet and subsequent earnings stream during a time when container leasing companies are likely to consolidate market share of the global shipping container fleet."
"We expect the company to generate GAAP EPS of $3.01 and $3.40 in 2012 and 2013, respectively."
For an analyst ratings summary and ratings history on CAI International click here. For more ratings news on CAI International click here.
Shares of CAI International closed at $17.23 yesterday.
Global Hunter Securities initiates coverage on CAI International (NYSE: CAP) with an Accumulate. PT $21.00.
Analyst, Joe Giamichael, said, "As one of several public container leasing companies, we believe that CAI International represents the best opportunity in the group as it relates to current valuation, leverage ratio, fleet expansion and earnings growth. Industry trends continue to favor container leasing companies relative to shippers and container investment groups, as shippers seek financial flexibility due to existing leverage, weak day rates and relatively high fuel costs, while the container investment industry, largely a bank-funded German enterprise, has been at a standstill due to European credit conditions. We foresee an operating environment where CAI will be able to expand its company-owned fleet and subsequent earnings stream during a time when container leasing companies are likely to consolidate market share of the global shipping container fleet."
"We expect the company to generate GAAP EPS of $3.01 and $3.40 in 2012 and 2013, respectively."
For an analyst ratings summary and ratings history on CAI International click here. For more ratings news on CAI International click here.
Shares of CAI International closed at $17.23 yesterday.
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