Jefferies raised the firm’s price target on Capital Product Partners to $22 from $20 and keeps a Buy rating on the shares. Rising Red Sea diversions are having a significant impact on vessel capacity, which has been most felt in the container sector, but also increasingly seen across tankers, says the analyst, who anticipates record Q4 results from LPG players, sequentially stronger results for tankers and dry bulk, and steady earnings for LNG. While the firm previews weak results for containers, it sees this being coupled with improved guidance, the analyst added in a Shipping sector preview.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CPLP:
- Capital Product Partners L.P. Schedules Fourth Quarter 2023 Earnings Release, Conference Call and Webcast
- CPLP Upcoming Earnings Report: What to Expect?
- Capital Product Partners L.P. Announces Cash Distribution
- Capital Product announces successful delivery of LNG Carrier ‘Axios II’
- Capital Product Partners L.P. Announces the Successful Delivery of the LNG Carrier ‘Axios II’