Stifel cut its outlook for Capital Product Partners but still kept a bullish stance on the New York-listed containership and tanker owner.
Analyst Benjamin Nolan, who covers shipping stocks for the investment bank, set a new 12-month target of $4, 60% below his previous $10 target. At today's price of $3.62, the new target represents a 10.5% premium.
A deal with South Korean charterer Hyundai Merchant Marine to cut charter rates on several containerships also led Nolan to reduce his earnings outlook.
He
