Goldman Sachs Downgrades Tanger Factory Outlet Centers (SKT) to Sell

Article Stock Quotes (1) Comments (0)

Goldman Sachs downgraded Tanger Factory Outlet Centers (NYSE: SKT) from Neutral to Sell with a price target of $30.00.

The firm cited: "(1) a broader lowering of our retail REIT coverage view to Neutral from Attractive as SKT is our third retail downgrade in the last three weeks (please see our January 3 report Retail REITs to Neutral on valuation (not fundamentals), for more on our coverage view), (2) valuation – our $30 price target implies -10% total return versus 13% average upside for our coverage universe and (3) less earnings dynamism than peers despite strong current fundamentals as a large amount of floating rate debt limits refinance potential and reduces the sensitivity to top-line growth."

For an analyst ratings summary and ratings history on Tanger Factory Outlet Centers click here. For more ratings news on Tanger Factory Outlet Centers click here.

Shares of Tanger Factory Outlet Centers closed at $34.46 yesterday, with a 52 week range of $27.72-$34.69.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: JPMorgan Cuts SodaStream (SODA) to Neutral, 'Stock No Longer Cheap'
• Goldman Sachs Downgrades Patterson-UTI Energy (PTEN) to Sell
• Notable HP (HPQ) Bear Speaks, Says 'Recovery Unsustainable'

Create E-mail Alert Related Categories

Downgrades, Hot Downgrades

Related Entities

Goldman Sachs, Earnings

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?