Deutsche Bank Recommends Shorting Textainer Group Holdings (TGH)

Deutsche Bank recommends short-selling Textainer Group Holdings TGH. In its Shipping Weekly update, Deutsche Bank writes, "This week, we suggest shorting TGH given its recent share appreciation and lack of any material change in the market. We believe the container market has not materially improved in the recent months and channel checks indicate a weaker pre-Chinese New Year than originally planned. We believe at TGH's price, near all-time highs, TGH may see 10%-15% downside in the next several weeks. TGH could be used as a hedge against other market correlated long positions or as a short-term short idea." TGH closed Friday at $30.99, up 0.75% from Thursday's close.