Deutsche Bank Reiterates Hold Rating on Capital Products Partners (CPLP)

Deutsche Bank is out with a research report this morning, where it reiterates its Hold rating on Capital Products Partners CPLP; it has a $9.00 price target on the stock. The DB analysts cited the company's recently announced quarterly earnings report, which was below estimates on EPS, though beat on revenues. They noted that higher-than-expected voyage and vessel expenses more than offset higher revenue. They added, “While CPLP trades at a high dividend yield, the weak tanker rate environment may provide a headwind for re-charters into Q1 2011, as such, we believe CPLP's risk reward is balanced at the current valuation.” Their price target is based on a 10x 2011 EV/EBITDA estimate of $76 million.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorPrice TargetAnalyst RatingsDeutsche Bank
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!