Credit Suisse Upgrades BrandyWine (BDN) to Outperform

Credit Suisse upgraded BrandyWine (NYSE: BDN) from Neutral to Outperform with a price target of $16.00 on portfolio/balance sheet repositioning .

Analyst Ian Weissman commented, "While investors we speak with agree that BDN is one of the cheapest office names in the sector (25% discount to NAV), most are concerned it’s a value trap, which has historically been the case. That said, we believe BDN is committed to narrowing that gap over time, as the company seeks to improve the overall quality of its portfolio, while dramatically reducing its leverage ratios. Although we expect BDN to continue to trade at a discount to its CBD peers, a more disciplined approach toward capital allocation, coupled with a higher quality portfolio and greater financial flexibility will be a meaningful catalyst for this stock."

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

Shares of BrandyWine closed at $12.88 yesterday.

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