Oppenheimer Boosts Price Target on Alexander & Baldwin (ALEX) to $60

Oppenheimer lifted its price target on Outperform-rated Alexander & Baldwin (NYSE: ALEX) from $55 to $60 saying increased disclosures yields a higher valuation.

The firm comments, "We now believe there is further upside to our valuation and raise our PT to $60 from $55. Our increased conviction comes from increased disclosure of land holdings, improved Hawaiian construction trends and greater than expected exposure to more valuable retail leasing. Further, higher trans-pacific shipping rates could provide upside at Matson."

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 $50.90 yesterday.

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