UPDATE: J.P. Morgan Raises SeaCube Container Leasing's PT
According to a research report published this morning, J.P. Morgan has increased SeaCube Container Leasing's (NYSE: BOX) PT from $17 to $18.
In the report, J.P. Morgan commented, "BOX reported 1Q12 adjusted EPS of $0.62, surpassing our $0.56 estimate as well as consensus ($0.58). Considering the quarter was very straightforward, the primary highlight was the strong level of CapEx commitments YTD 2012. We expect fundamentals to remain favorable for container lessors over the next 12 months, but earnings growth may slow given the aggressive asset growth in 2011. We are maintaining our Neutral rating and raising our 2012 price target to $18 to reflect greater earnings power."
SeaCube Container Leasing is currently trading at $17.80.
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