Market Overview

Sterne Agee Reiterates Buy Rating, $42 PT on Textainer Group Holdings Limited

Related TGH
Earnings Scheduled For February 17, 2015
Top 4 Small-Cap Stocks In The Rental & Leasing Services Industry With The Highest Profit Margin
Weekly 3-Year Low Highlights: CZZ, GEF, TGH, GRP.U (GuruFocus)

In a report published Monday, Sterne Agee Group reiterated its Buy rating and $42.00 price target on Textainer Group Holdings Limited (NYSE: TGH).

Sterne Agee noted, “We believe TGH's $78M acquisition of a managed portfolio of containers reflects TGH's--and the broader container leasing group's--strong asset growth opportunities despite slower global economic growth. TGH recently announced that it has acquired a 50.1% interest in TAP Funding Ltd., a company that owns roughly a 99,000 TEU fleet of containers currently managed by TGH, for $78M. The $78M purchase price includes the undisclosed value of TAP Funding's existing outstanding debt. This transaction increases the owned portion of TGH's fleet from 69% at the end of 3Q to 71%, furthering TGH's stated goal of increasing the owned portion of its fleet. TGH indicated that the fleet has high utilization and is leased out to a diversified mix of lessees.”

Textainer Group Holdings Limited closed on Friday at $30.95.

Latest Ratings for TGH

May 2015RBC CapitalMaintainsSector Perform
May 2015Deutsche BankMaintainsHold
Feb 2015Keefe Bruyette & WoodsMaintainsMarket Perform

View More Analyst Ratings for TGH
View the Latest Analyst Ratings

Posted-In: Sterne Agee GroupAnalyst Color Reiteration Analyst Ratings


Related Articles (TGH)

Around the Web, We're Loving...

Get Benzinga's Newsletters