Goldman Sachs Resumes Coverage on General Growth Properties (GGP) at Neutral; Growth, But Back-End Loaded

Article Stock Quotes (1) Comments (0)

Goldman Sachs resumes coverage on General Growth Properties (NYSE: GGP) with a Neutral. PT $18.00.

Analyst, Andrew Rosivach, said, "Our five-year FFO growth rate for GGP of 50.9%, the third highest in our coverage universe, has material contributions from internal growth, refinancing, and development. We caution, however, that some of the earnings growth is back end-loaded: accretive events such as the redevelopment of the Sears box at Ala Moana in Hawaii occur in the latter half of our earnings projection. Our 2013-17 NOI growth estimate (16.9%) is modestly above that of A mall peers (average of 13.4%) as we think NOI-weighted sales levels are modestly below competitors."

For an analyst ratings summary and ratings history on General Growth Properties click here. For more ratings news on General Growth Properties click here.

Shares of General Growth Properties closed at $18.07 yesterday, with a 52 week range of $10.68-$18.66.

---

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

• Williams-Sonoma (WSM) Delivers 'Clean' Q1 Beat - Analyst
• salesforce.com, Inc. (CRM) Reports In-Line Q1 EPS; Issues In-Line Q2, FY14 Outlook
• Topeka Capital Starts InvenSense (INVN) at Buy

Create E-mail Alert Related Categories

New Coverage

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?