Cantor Fitzgerald Initiates Coverage of Box Ships with Buy and PT of $14

Cantor Fitzgerald initiated a coverage of Box Ships (NYSE: TEU) with Buy and PT of $14. In a research report published today, Cantor Fitzgerald claims it believes, after a few difficult years, the company has managed to turn the corner.

In the report, Cantor states, "After going through a difficult period in late-2008 through early-2010 as a result of a sharp downturn in global demand, partly due to the global recession, as well as a large orderbook and an oversupply of tonnage, the container shipping sector has undergone a significant, and what we believe is sustainable, rebound. With a moderately leveraged balance sheet and an experienced management team, we suggest Box Ships is well- positioned to take advantage of opportunities to grow its fleet."

In today's trading, Box Ships lost 1.86% and is currently trading around $10.56.