Goldman Sachs Raises Numbers On Taubman Centers (TCO) Following Solid Q4

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TCO Hot Sheet

Rating Summary:
3 Buy, 4 Hold, 1 Sell

Rating Trend: Down

Down

Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38

Goldman Sachs raised estimates and its price target on Buy-rated Taubman Centers (NYSE: TCO) from $66 to $71 following solid 4Q 2011 adjusted FFO per share of $0.93.

The firm raised 2012/2013 estimates to $3.25/$3.40 from $3.10/$3.30.

Factors supporting the firm's Buy rating include: "(1) Strong operating results for TCO's class A malls, with solid releasing spreads of 20.3% and a 3.6% increase in average base rents; (2) Tenant sales continue to be strong ending the year at $641/SF (+14%); and (3) Well positioned balance sheet with low leverage (net debt/EBITDA) of 6.7X and sound liquidity."

For an analyst ratings summary and ratings history on Taubman Centers click here. For more ratings news on Taubman Centers click here.

Shares of Taubman Centers closed at $68.53 yesterday, with a 52 week range of $46.74-$70.00.

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