Analyst Michael Webber has lifted the New York-listed containership owner from market perform to outperform.
Webber argues the owner offers investors a “compelling” risk reward profile at this point in the cycle due to its preference for period contracts and growing shareholder payouts.
Gerry Wang-led Seaspan has a fleet of 89 container vessels including newbuildings, which will generate core operating profit of around $650m through 2016, the analyst says.
