Jefferies Starts Global Ship Lease Inc. (GSL) at Buy
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Jefferies analyst Randy Giveans initiates coverage on Global Ship Lease Inc. (NYSE: GSL) with a Buy rating and a price target of $18.00.
The analyst commented, "We are initiating coverage of Global Ship Lease (GSL) with a Buy rating and an $18price target as the Company has recently signed numerous charters at 3x the rate ofthe expiring charter and for 2x the duration, announced a major refinancing initiative,declared a dividend, completed an equity raise, and acquired seven vessels. TheCompany has a pro forma fleet of 50 containerships with an average contract length of2.5 years and a charter backlog of $850 MM."
Shares of Global Ship Lease Inc. closed at $12.88 yesterday.
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