Wells Fargo Downgrades Seaspan (SSW) to Underperform
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Wells Fargo analyst Michael Webber downgraded Seaspan (NYSE: SSW) from Market Perform to Underperform with a price target of $5.50 (from $8.00).
The analyst downgrades the entire container complex citing risks on the horizon. He believes headwinds from both IMP 2020 fuel regulations and impacts from tariff/trade protectionism introduce material downside risks for the entire group.
Shares of Seaspan closed at $8.32 yesterday.
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