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Compass Point Downgrades First Potomac (FPO) to Neutral Citing Uncertainty

January 25, 2013 7:55 AM EST Send to a Friend
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Price: $11.69 --0%

Rating Summary:
    6 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 1 | New: 6
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Compass Point downgraded First Potomac (NYSE: FPO) from Buy to Neutral with a price target of $14.00.

The firm comments, "Our downgrade takes into account the uncertainty associated with the new strategic and capital plan (announced on 1/24/13 and discussed below), ongoing uncertainty in the DC leasing environment, and the considerable appreciation of FPO's share price over the past several months. FPO has made considerable progress reducing leverage over the past year and the new capital plan should move them significantly down the path towards an investment grade rating. However, we suggest that investors looking for dividend and NAV growth focus elsewhere in the meantime."

For an analyst ratings summary and ratings history on First Potomac click here. For more ratings news on First Potomac click here.

Shares of First Potomac closed at $13.88 yesterday.




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