In report published on Monday, JP Morgan reiterated its Neutral rating on SeaCube BOX and raised its price target to $23.
"SeaCube reported 4Q12 earnings AMC on Wednesday [2/20], reporting adjusted EPS of $0.63, vs. our estimated $0.69. Adjusted EPS was $0.67 excluding a one-time $0.8M charge related to the pending acquisition by Ontario Teachers' Pension
Plan, or $0.02 below our estimate," noted JP Morgan. "We raise our PT to $23 from $20, as we think shares will be range-bound near the $23 acquisition offer price until further updates."
SeaCube closed Friday at $22.95.
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