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Fly News Breaks for December 3, 2019
DAC
Dec 3, 2019 | 09:29 EDT
Jefferies analyst Randy Giveans upgraded Danaos to Buy from Hold with a price target of $9, down from $11. Danaos recently completed a secondary offering of 9M shares, which removes an overhang, Giveans tells investors in a research note. He believes the shares are undervalued and should soon reflect the company's "strong" balance sheet, "substantial" charter backlog, and likely dividend payment in 2020.
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