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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Read More on CPLP:
- Capital Product Partners L.P. Announces Fourth Quarter 2023 Financial Results
- Capital Product Partners reports Q4 EPS 61c vs $1.03 last year
- Capital Product Partners price target raised to $22 from $20 at Jefferies
- Capital Product Partners L.P. Schedules Fourth Quarter 2023 Earnings Release, Conference Call and Webcast
- CPLP Upcoming Earnings Report: What to Expect?
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