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UPDATE: Citigroup Downgrades SeaCube Container Leasing to Neutral Following Acquisition

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UPDATE: JP Morgan Maintains Neutral on SeaCube Despite Lower-Than-Expected Earnings, Raises PT to $23
UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on SeaCube Container Leasing

Citigroup downgraded SeaCube Container Leasing (NYSE: BOX) from Buy to Neutral and raised the price target from $21.00 to $23.00.

Citigroup commented, "SeaCube's Board agreed to be acquired by Ontario Teachers Pension Plan for $23 per share in cash, 13% above Friday's $20.30 closing price and 130% above the company's IPO price of $10 in October 2010. … We are lowering our rating on SeaCube from Buy to Neutral, while increasing our target price to $23, in line with Ontario Teachers' offer, as we expect the shares to trade closely in line with the offer price."

SeaCube Container Leasing closed at $20.30 on Friday.

Latest Ratings for BOX

DateFirmActionFromTo
Feb 2019Goldman SachsInitiates Coverage OnBuy
Jan 2019Craig-HallumInitiates Coverage OnBuy
Jan 2019RosenblattUpgradesNeutralBuy

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Posted-In: CitigroupAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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