UPDATE: Stifel Upgrades DuPont Fabros Technology (DFT) to Buy

October 7, 2016 7:38 AM EDT
Get Alerts DFT Hot Sheet
Price: $47.91 +2.57%

Rating Summary:
    12 Buy, 6 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - October 7, 2016 9:51 AM EDT)

Stifel upgraded DuPont Fabros Technology (NYSE: DFT) from Hold to Buy with a price target of $43. Analyst Matthew S. Heinz said its business isn't nearly as bad as stock suggests and raised its rating based on valuation.

"We are upgrading DFT to Buy from Hold following a -20% correction in the shares since 6/30 (near peak, RMZ -8%) and a de-rating of the multiple to historically attractive levels (11.9x 2017E AFFO). We believe the correction discounts an expectation of weaker 3Q leasing activity (in relation to 1H16 peak levels), despite what should be a record year of signings for DFT in 2016, providing a solid setup for 2017 earnings growth. From current prices, we see 18% total return potential to our $43 target price, based on 13.5x our 2017 AFFO estimate," said Heinz.

For an analyst ratings summary and ratings history on DuPont Fabros Technology click here. For more ratings news on DuPont Fabros Technology click here.

Shares of DuPont Fabros Technology closed at $38.02 yesterday.

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