Cantor Fitzgerald Upgrades Seaspan (SSW) to Buy; Valuation Call

Cantor Fitzgerald upgraded Seaspan (NYSE: SSW) from Hold to Buy with a price target of $18.00.

Cantor analyst says, "The stock has fallen 45% since reaching a near-term peak in early-April 2011. Based on our valuation, we believe SSW represents an attractive value at current levels...We now expect SSW to report 2011 and 2012 EPS of $1.11 (from $1.10) and $1.65 (from $1.67), respectively, and 2011 and 2012 EBITDA of $414 million (from $415 million) and $524 million (from $526 million)."

For more ratings news on Seaspan click here and for the rating history of Seaspan click here.

Shares of Seaspan closed at $11.40 yesterday.

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