Mizuho Securities Starts CBL & Associates (CBL) at Neutral

Mizuho Securities initiates coverage on CBL & Associates (NYSE: CBL) with a Neutral rating and a price target of $13.00.

Analyst Haendel St. Juste commented, "CBL owns a portfolio of ‘B’ malls, sporting two key advantages: 1. 91% of mall NOI from “market dominant” or “only game in town” mall; and 2. Average distance from CBL mall to nearest major competition is 25 miles. Other considerations for CBL’s portfolio is that it serves markets that are underserved, have significant barriers to entry and are marked by stable and growing populations, as well as solid local economies."

For an analyst ratings summary and ratings history on CBL & Associates click here. For more ratings news on CBL & Associates click here.

Shares of CBL & Associates closed at $11.87 yesterday.

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