Stifel lowered the firm’s price target on Capital Product Partners to $20 from $21 and keeps a Buy rating on the shares. Shipping companies, particularly tankers and to a lesser extent bulkers, continue to be benefiting from “a lollapalooza of events” that have all pushed day rates up and cash flows higher, the analyst tells investors in a Q1 shipping preview note. The firm continues to like both tanker and dry bulk equities, though at this point it believes much of the upside, but not all, has been priced into equities, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CPLP:
- Capital Product Partners announces sale of three 10,000 TEU container vessels
- Capital Product Partners L.P. Announces the Sale of Three 10,000 TEU Container Vessels
- Capital Product Partners announces sale of one 9,300 TEU, two 5,100 TEU vessels
- Capital Product Partners L.P. Announces the Sale of One 9,300 TEU and Two 5,100 TEU Container Vessels
- Capital Product Partners downgraded to Hold from Buy at Jefferies