Increased Price Target for Textainer (TGH)

Jefferies & Company, Inc. has increased the price target for Textainer TGH according to their research report published this morning. The price target on TGH has increased from $22.00 to $28.00. TGH had a net income of $30.6M which was $3.6M ahead of Jefferies & Co.'s estimate. Even though TGH had lower than estimated revenue they offset it with lower operating expenses. In regards to the increased price target, Jefferies & Co. writes, "Our price target of $28 represents 8.0x our projected NTM EV:EBITDA. This multiple represents a slight premium to the group mean, which we believe is justified given relatively low leverage and extensive operating history." TGH closed Tuesday at $27.57