Why Has Janney Capital Given Capital Product Partners LP (NASDAQ:CPLP) a $8.00 Price Target
In a comprehensive report announced on Friday morning, Janney Capital analyst has today have initiated coverage for Capital Product Partners LP (NASDAQ:CPLP) shares with a “Buy” rating. The target price is exactly $8.00.
From a total of 9 analysts covering Capital Product Partners L.P. (NASDAQ:CPLP) stock, 8 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 80% of the ratings are positive. The highest target price is $12 while the lowest target price is $8. The mean of all analyst targets is $10.33 with a 38.97% above today’s ($6.03) stock price. Capital Product Partners L.P. was the topic of 5 analyst reports since August 25, 2015 according to the firm StockzIntelligence Inc. Wells Fargo upgraded shares on October 27 to “Outperform” rating. Zacks upgraded shares to “Hold” rating and $7.75 target share price in a report from an August 27.
The stock decreased 0.33% or $0.02 on December 4, striking $6.03. Approximately shares of stock traded hands. Capital Product Partners L.P. (NASDAQ:CPLP) has declined 34.74% since May 4, 2015 and is downtrending. It has underperformed by 33.66% the S&P500.
Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The company has a market cap of $804.79 million. As of December 31, 2014, the Company’s fleet consisted of 30 vessels with 2.1 million deadweight tonnage capacity, including four Suezmax crude oil tankers, 18 medium range (MR) tankers, all of which are classed as International Maritime Organization (IMO) II/III vessels, seven post-panamax container carrier vessels and one Capesize bulk carrier. It has 16.18 P/E ratio. The Company’s vessels are capable of carrying a range of cargoes, including crude oil, refined oil products, such as gasoline, diesel, fuel oil and jet fuel, edible oils and certain chemicals, such as ethanol, as well as dry cargo and containerized goods.
According to Zacks Investment Research, “CAPITAL PRODUCT PARTNERS L.P. is an international shipping company and leader in the seaborne transportation of refined oil products and chemicals. Their fleet of product tankers is fully chartered under medium- to long-term time and bareboat charters. With their modern, state-of-the-art fleet and built-in growth through contracted acquisitions of additional vessels and the potential drop-down of optional vessels from the owner of their General Partner, Capital Maritime & Trading Corp., they are well-positioned to capitalize on the growth dynamics of the product tanker industry, worldwide, as well as pending regulatory changes.” Get a free copy of the Zacks research report on Capital Product Partners L.P. (CPLP).