Deutsche Bank Upgrades Maguire Properties (MPG) to Hold
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Deutsche Bank upgrades Maguire Properties (NYSE: MPG) from Sell to Hold and raises their price target from $8 to $9.
The firm said, "With the dividend cut and updated estimates, our target price goes from $8
to $9. With the shares near this price, we are changing our rating from Sell to Hold. Our $9 target reflects our forward Enterprise Value in mid 2009 at a 6.0% cap rate."
Maguire Properties, Inc. is the largest owner and operator of Class A office properties in the Los Angeles central business district and is primarily focused on owning and operating high-quality office properties in the Southern California market.
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