UPDATE: Imperial Capital Initiates Coverage on International Shipholding on Good Potential Upside

In a report published Tuesday, Imperial Capital analyst Andrew Casella initiated coverage on International Shipholding (NYSE: ISH) with an Outperform rating and $43.00 price target.

In the report, Imperial Capital noted, “We are initiating coverage on ISH common stock with an Outperform rating and a one-year price target of $43, about 37% potential upside (which includes returns from anticipated dividend income of $1 per share over the next 12 months). We see significant upside in ISH shares as investors better appreciate the free cash generative qualities of the company's diversified portfolio of shipping assets (60-70% of revenues are targeted to be derived from business anchored by medium to long-term charters) and earnings ‘beta' primarily relates to its seven vessel international dry bulk carrier fleet.”

International Shipholding Corporation closed on Monday at $32.31.