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Fly News Breaks for August 14, 2019
Aug 14, 2019 | 20:28 EDT
BMO Capital analyst Fadi Chamoun initiated Seaspan with a Market Perform rating and a price target of $10.50. The analyst is positive on the company's leading containership leasing market position, stable revenue base, and "predictable" earnings, but contends that the key source of its value creation will be the redeployment of its cash flow toward debt repayment because of the "absence of accretive investment opportunities". Chamoun adds that he would turn more "constructive" in the event of a valuation pullback.
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