KeyBanc Upgrades Taubman Centers (TCO) to Hold

Article Stock Quotes (1) Comments (0)

KeyBanc upgraded Taubman Centers (NYSE: TCO) from Underweight to Hold.

The firm comments, "TCO owns one of the highest quality mall portfolios, which we expect will generate above-average NAV and earnings growth over the next several quarters; a lack of new supply for high quality, luxury retail centers has created steady demand for space within existing assets. Our downside bias had been valuation driven, though cap rates for high quality, irreplaceable assets continue to decline. Our revised NAV estimate of $77.47/share reflects a 50 basis point decrease in our applied, nominal cap rate to 5.25%"

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

Shares of Taubman Centers closed at $79.85 yesterday, with a 52 week range of $46.74-$81.66.

---

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

• UPDATE: Cantor Fitzgerald Upgrades Cubist Pharmaceuticals (CBST) to Hold
• Barclays Upgrades Terex (TEX) to Overweight
• UPDATE: Intuit, Inc. (INTU) Tops Q3 EPS by 4c, Offers Guidance

Create E-mail Alert Related Categories

Upgrades

Related Entities

KeyBanc, 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?