Mizuho Securities Upgrades DDR Corp. (DDR) to Neutral
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Mizuho Securities upgraded DDR Corp. (NYSE: DDR) from Underperform to Neutral with a price target of $15.00.
Analyst Haendel St. Juste commented, "We are upgrading DDR to Neutral from Underperform with a $15.00 price target based on an 25% discount to our $20.00 NAV estimate at a 6% cap rate. On current valuation, DDR shares trades at a meaningful discount to shopping center REIT peers, having underperformed both the RMZ and the Shopping Center sector YTD, down 12% vs -3% for the sector and -2% for the RMZ. At recent pricing, DDR trades at 74% of NAV, its widest levels since 2Q/2009, (vs Shopping Centers' Malls' 88% / REITs' 90%) and 7.0% implied cap rate (6.0% / 6.5%) above private market cap rates."
Shares of DDR Corp. closed at $14.85 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Upgrades Abraxas Petroleum (AXAS) to Buy Amid Emerging Delaware Basin Potential
- Bassett Furniture (BSET) PT Raised to $28 at Stifel Following 4Q EPS Beat
- BofA/Merrill Lynch Upgrades CF Industries (CF) to Buy, Says "Consensus Estimates Now Beatable"
Create E-mail Alert Related CategoriesAnalyst Comments, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!