Keefe, Bruyette & Woods Upgrades Alexander & Baldwin (ALEX) to Outperform; Expect "Conglomerate" Discount to Dissipate

Keefe, Bruyette & Woods upgraded Alexander & Baldwin (NYSE: ALEX) to Outperform with a new price target of $50.00.

KBW analyst says, "ALEX's Board has approved splitting into two companies: a real estate company (A&B) and transportation company (Matson). We believe ALEX shares have perpetually traded below our sum-of-the-parts estimate (currently $50 per share) with a complexity discount given the very different businesses under one umbrella."

For an analyst ratings summary and ratings history on Alexander & Baldwin click here. For more ratings news on Alexander & Baldwin click here.

Shares of Alexander & Baldwin closed at $38.06 yesterday.

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