KeyBanc Adjusts PT and Estimates on BrandyWine (BDN); Improved Balance Sheet and Ample Cash
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Price: $15.04 -2.27%
Rating Summary:
1 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
1 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade BDN Now!
KeyBanc maintains a 'Buy' on BrandyWine (NYSE: BDN) price target of $13.00 (from $12.00).
Analyst, Jordan Sadler, said, "BDN is still well positioned with an improved balance sheet and ample cash. BDN has outperformed YTD, which we partially attribute to the late recognition of the progress the Company made at the end of 2011. However, relative to other mid-Atlantic suburban office peers, BDN appears to be better positioned, with portfolio concentrations in stronger markets (i.e., Philadelphia)..."
Sadler sees the company ramping up asset sales from $80 million to $175 million (with $91 million deal already completed) and therefore cuts FY12 EPS estimate from $$1.37 to $1.32 and FY13 from $1.43 to $1.41.
For an analyst ratings summary and ratings history on BrandyWine click here. For more ratings news on BrandyWine click here.
Shares of BrandyWine closed at $11.69 yesterday, with a 52 week range of $6.77-$12.39.
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Analyst, Jordan Sadler, said, "BDN is still well positioned with an improved balance sheet and ample cash. BDN has outperformed YTD, which we partially attribute to the late recognition of the progress the Company made at the end of 2011. However, relative to other mid-Atlantic suburban office peers, BDN appears to be better positioned, with portfolio concentrations in stronger markets (i.e., Philadelphia)..."
Sadler sees the company ramping up asset sales from $80 million to $175 million (with $91 million deal already completed) and therefore cuts FY12 EPS estimate from $$1.37 to $1.32 and FY13 from $1.43 to $1.41.
For an analyst ratings summary and ratings history on BrandyWine click here. For more ratings news on BrandyWine click here.
Shares of BrandyWine closed at $11.69 yesterday, with a 52 week range of $6.77-$12.39.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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