Cantor Fitzgerald Upgrades BioMed Realty (BMR) to Buy; Growing Demand...For Labs
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Price: $1.32 +3.94%
Rating Summary:
6 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Cantor Fitzgerald upgraded BioMed Realty (NYSE: BMR) from Hold to Buy with a price target of $20.50.
Analyst, David Toti, said, "Lab space fundamentals have held up year to date, as Biomed has continued to lease the portfolio ahead of our expectations. Additionally, the company continues to acquire assets, most notably in Cambridge, U.K. We have revised our forward FFO estimates and NAV/share calculation (unchanged at $18.50) to account for activity announced by Biomed to date. Although we have revised our forward estimates, our core valuation remains unchanged; that said, the stock has underperformed YTD (up 6.1%, vs. 18.0% for REITs overall), providing what we view as an attractive (relative) entry point."
For an analyst ratings summary and ratings history on BioMed Realty click here. For more ratings news on BioMed Realty click here.
Shares of BioMed Realty closed at $18.76 yesterday.
Analyst, David Toti, said, "Lab space fundamentals have held up year to date, as Biomed has continued to lease the portfolio ahead of our expectations. Additionally, the company continues to acquire assets, most notably in Cambridge, U.K. We have revised our forward FFO estimates and NAV/share calculation (unchanged at $18.50) to account for activity announced by Biomed to date. Although we have revised our forward estimates, our core valuation remains unchanged; that said, the stock has underperformed YTD (up 6.1%, vs. 18.0% for REITs overall), providing what we view as an attractive (relative) entry point."
For an analyst ratings summary and ratings history on BioMed Realty click here. For more ratings news on BioMed Realty click here.
Shares of BioMed Realty closed at $18.76 yesterday.
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