JP Morgan has initiated coverage of Greek-owned Navios Maritime Containers with a bullish outlook, citing upside potential driven by well-timed market entry.
Chairman and chief executive Angeliki Frangou placed the boxship player under the Navios Maritime Holdings umbrella in May 2017 with a $113m swoop of Rickmers Maritime's 14 ships.
"We believe it's an interesting alternative for investors looking at the container shipping sector, as it has an underleveraged balance sheet, high operating leverage to a recovery and deep valuation discount to its peers," analyst Noah Parquette wrote in a note to clients.
