UBS Maintains a 'Neutral' on DuPont Fabros Technology (DFT); Continued Execution Provides More Upside

UBS maintains a 'Neutral' on DuPont Fabros Technology (NYSE: DFT) price target raised from $23 to $27.

Analyst, Ross T. Nussbaum, said, "Assuming stabilization of the lease-up portfolio as well as current development projects, we see the NAV approaching ~$30 by late 2014 if projected development yields can be reached. Land held for development (NJ1 PH II, ACC7 & 8 and SC2 PH I/II) will also be a likely source of NAV creation in the future. That said execution risk is still prevalent as earnings growth and new development starts are dependent on continued success on the leasing front. Given this underlying risk and the 6.8% current implied cap rate, we are maintaining our rating."

FY12 EPS estimate raised from $1.41 to $1.48 and FY13 from $1.89 to $2.03.

For an analyst ratings summary and ratings history on DuPont Fabros Technology click here. For more ratings news on DuPont Fabros Technology click here.

Shares of DuPont Fabros Technology closed at $27.15 yesterday.

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