In a client briefing Charles Rupinski argued that the segment will see what he described as a “modest recovery” over the next two years.
“We are basing our stock ratings for companies under coverage on our forecast of their ability to grow earnings in what we believe will be an improving environment, as well as stock valuation,” he added.
Rupinski stamped Seaspan Corp, Diana Containerships, Danaos and Global Ship Lease with “neutral” ratings. Costamare landed an “accumulate” stamp.
In addition to containership operators the forecaster added more US-listed tanker and bulker stocks to his coverage universe as well.
“Although we continue to have the view that dry bulk stocks have potential for investors with risk tolerance, we are initiating on Diana Shipping a ‘neutral’ rating, given its current vessel and earnings profile,” he wrote.
“We remain constructive on the tanker sector, with a forecast of a strong crude tanker rate environment in 2015 and 2016. We have a more conservative view of the product tanker market, but believe that the rate picture will be solid.”
Rupinski branded shares of Euronav with a “buy”. Ardmore Shipping, Frontline 2012 and Hafnia Tankers scored “accumulate” ratings.
