Mizuho Securities Remains Bullish on Corporate Office Properties Trust (OFC) Following Q1
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Rating Summary:
11 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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Mizuho Securities reiterated a Buy rating on Corporate Office Properties Trust (NYSE: OFC), and raised the price target to $30.00 (from $25.00), following the company's 1Q earnings report.
Analyst Richard Anderson commented, "Following a positive 1Q16 result, which included a meaningful improvement to the same store outlook, we are increasing our PT to $30 from $25. This target assigns a 2016 AFFO multiple that is 80% of the office sector average -- 19x for OFC versus 24x for the office sector. We believe this non-heroic assumption strikes a still conservative balance between the uncertainty that defined OFC's past (that still weighs on investor psyche) and the opportunity that appears in the future. The stock also trades well below our revised $30.52 NAV estimate. Reiterate Buy."
For an analyst ratings summary and ratings history on Corporate Office Properties Trust click here. For more ratings news on Corporate Office Properties Trust click here.
Shares of Corporate Office Properties Trust closed at $25.68 yesterday.
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