B. Riley analyst Liam Burke raised the firm’s price target on Capital Product Partners to $24 from $19 and keeps a Buy rating on the shares. The company plans to reposition its fleet by growing its liquefied natural gas carrier assets and beginning to divest its entire container vessel fleet, the analyst tells investors in a research note. The firm says the new company will also announce a new capital allocation strategy that will include a variable quarterly dividend payout tied to a percentage of free cash flow after debt amortization.
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