Sterne Agee Reiterates Buy, $20 Target on Seacube

Sterne Agee Reiterates its Buy rating and $20 target price on Seacube Container Leasing Ltd. BOX as investor luncheon highlights resilience of the company's business model. Sterne Agee says, “Our key takeaway is that the current tight container supply situation will continue in the intermediate term, supporting prolonged high utilization levels. Container throughput continues to grow at ~8% in 2011, above projected container fleet growth of 6%-7%. This follows 2010's extreme supply/demand mismatch of 7% / 10% plus.” BOX closed at $14.81 per share on Thursday.