Danaos: The Valuation Math Still Heavily Favors Bulls

Stewart Sutton Danaos (NYSE:DAC) is a Greek shipping company with 68 owned and/or operated containerships, mostly transiting goods to Europe, Asia and Australia. I wrote two bullish articles on the company last year (June) (October), starting at a share price of $60. Over the last 10 months, DAC has performed well for shareholders with a +21% total return vs. the equivalent-period S&P 500 gain of +18%. Nothing spectacular, yet I would have guessed this outcome as closer to a minimum return with the gene ...