Wedbush Starts Colony Financial, Inc. (CLNY) at Outperform
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Wedbush initiates coverage on Colony Financial, Inc. (NYSE: CLNY) with a Outperform rating and a price target of $26.00.
Analyst Jason Weaver commented, "We believe that CLNY is mispriced vs comps having substantial upside potential from multiple transition to Equity REIT valuation as well as the addition of the investment management business. A sum-of-the-parts valuation would garner a significantly higher multiple vs the current market price."
Shares of Colony Financial, Inc. closed at $18.21 yesterday.
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