Compass Point Reiterates a 'Buy' on Howard Hughes Corp (HHC); Raising PT After Solid Quarter
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Price: $78.76 --0%
Rating Summary:
10 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Compass Point reiterates a 'Buy' on Howard Hughes Corp (NYSE: HHC) price target raised from $75 to $77.
Analyst, Wilkes Graham, said, "HHC reported in line NOI for 1Q12, better than expected land sales at Summerlin, and impressive results from The Woodlands Resort & Conference Center. Our increased price target is based on incrementally more value at the Resort, an uptick in the present value of the company's development pipeline as specific projects come into focus, and slightly lower net debt. We found no negative surprises in the quarterly results apart from seasonality in property-specific NOI, and continue to wait for further details on specific plans at South Street Seaport and Ala Moana (above all others)."
For an analyst ratings summary and ratings history on Howard Hughes Corp click here. For more ratings news on Howard Hughes Corp click here.
Shares of Howard Hughes Corp closed at $62.42 yesterday.
Analyst, Wilkes Graham, said, "HHC reported in line NOI for 1Q12, better than expected land sales at Summerlin, and impressive results from The Woodlands Resort & Conference Center. Our increased price target is based on incrementally more value at the Resort, an uptick in the present value of the company's development pipeline as specific projects come into focus, and slightly lower net debt. We found no negative surprises in the quarterly results apart from seasonality in property-specific NOI, and continue to wait for further details on specific plans at South Street Seaport and Ala Moana (above all others)."
For an analyst ratings summary and ratings history on Howard Hughes Corp click here. For more ratings news on Howard Hughes Corp click here.
Shares of Howard Hughes Corp closed at $62.42 yesterday.
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