Container ship lessors: Down after Wells Fargo cuts ratings, PTs

Textainer group

28/09/2018 14:30

** Global container ship lessors' shares down after Wells
Fargo cuts ratings, PTs 
    ** Seaspan Corp  SSW.N  down 6.3 pct at $8.05, CAI
International  CAI.N  down 3.5 pct, Textainer Group Holdings
 TGH.N  down 4.4 pct
    ** Wells Fargo says headwinds from both International
Maritime Organization (IMO) 2020 fuel regulations, and impact of
trade protectionism have created significant downside risks for
the group
    ** Cuts TGH's PT to $11 from $16, downgrades to
'underperform' from 'market perform'
    ** Brokerage trims CAI's fair value to $22 from $31, lowers
to 'market perform' from 'outperform'
    ** Wells Fargo cuts SSW PT to 'underperform' from 'market
perform'; cuts PT to $5.50 from $8.00

 (Reporting by Arundhati Sarkar and Shradha Singh)
 ((John.Benny@thomsonreuters.com; +1 646-223-8780; Reuters
Messaging: John.Benny.thomsonreuters.com@reuters.net))