SA: Danaos – are stock buybacks finally coming?

SEEKING ALPHA’s Romil Patel writes:

– Danaos had a great Q1 and the current valuation is the cheapest in the containership lessor industry.

– There are big backlogs for the next two years, which will provide a shield against lower freight rates.

– Share repurchases finally seem to be on the horizon.

Introduction

I believe that Danaos is significantly undervalued by the market likely due to fears of a global recession. I find the risk of a significant global downturn to have little impact on Danaos ...