Jefferies Upgrades CBL & Associates (CBL) to Buy; Too Cheap To Ignore

August 29, 2016 6:51 AM EDT
Get Alerts CBL Hot Sheet
Price: $12.20 +0.25%

Rating Summary:
    3 Buy, 15 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Jefferies upgraded CBL & Associates (NYSE: CBL) from Hold to Buy with a price target of $16.00 (from $10.50), saying execution makes shares too cheap to ignore.

Analyst commented, "We believe several issues that have been an overhang on CBL stock have been resolved or are in the process of resolution. CBL still faces issues due to a tough retail environment, but the risk-reward appears favorable given valuation and our view that balance sheet and portfolio improvement continues into 2017. We upgrade to a Buy rating with a new $16 PT."

For an analyst ratings summary and ratings history on CBL & Associates click here. For more ratings news on CBL & Associates click here.

Shares of CBL & Associates closed at $13.24 yesterday.

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