Goldman Sachs Upgrades CBL & Associates (CBL) to Buy

Goldman Sachs upgraded CBL & Associates (NYSE: CBL) from Neutral to Buy with a price target of $27.00 (from $23.00). Analyst Andrew Rosivach believes weakness in shares is a result of J.C. Penney (NYSE: JCP).

"While we take no view on the outcome of events at JCP, past experience with bankrupt tenants implies CBL would experience a minimal lost of rents from a JCP credit event," said Rosivach.

For an analyst ratings summary and ratings history on CBL & Associates click here. For more ratings news on CBL & Associates click here.

Shares of CBL & Associates closed at $24.05 yesterday.

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