Stifel raised the firm’s price target on Capital Product Partners to $21 from $20 and keeps a Buy rating on the shares. After the partnership announced plans for the acquisition of 11 new LNG carriers, the planned sale of the container fleet, a transition to a corporation, and “a substantial boost to liquidity” through a rights offering, the firm said it believes it will take time for earnings per share to recover from the rights offering, but it expect EPS to move closer to $3 per share as ships are delivered and thinks multiples should expand with “a higher quality homogenous fleet and greater share liquidity.”
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