UPDATE: Barclays Begins Coverage on StealthGas
In a report released Tuesday morning, Barclays analyst Brandon Oglenski started coverage on Stealthgas (NASDAQ: GASS) with an initial rating of Overweight and price target of $13.
GASS specializes in the market of seaborne transportation to producers of liquefied petroleum gas and also provides crude oil and product carriers.
The report notes, "StealthGas is a small company with big ambitions - StealthGas has a fleet of 38 LPG vessels, with current revenue of $120mm, EBITDA of $62mm and an enterprise value just north of $550mm. However, future fleet growth and expected market improvement for LPG assets points to EBITDA growth potential of over 60% in the next few years."
GASS closed Monday $9.88, opening Tuesday up around the $10.42 mark.
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