Piper Jaffray Overweight On CAI International (CAP)

Piper Jaffray has an Overweight rating and a $29 price target on shares of CAI International CAP.

In a note to clients, Piper Jaffray writes, "Based on our proprietary analysis, containerized trade remains vibrant through
February, growing 6.3% y/y on a YTD basis. We believe an early Chinese New Year had some impact on the y/y growth metrics. The earthquake/tsunami/nuclear issues in Japan are likely to have a limited direct impact on the container leasing industry, unless it results in a material global economic slowdown. We believe the robust operating environment for container lessors could extend for a few more years. We reiterate our Overweight ratings on both TGH and CAP."

Shares of CAP lost $1.26 yesterday to close at $21.92, a loss of 5.4%.