Jefferies Upgrades DDR Corp. (DDR) to Buy

Jefferies upgraded DDR Corp. (NYSE: DDR) from Hold to Buy with a price target of $22.00 (from $20.00).

Analyst Omotayo Okusanya comments, "Post ICSC, we are convinced that DDR will hit its 5-year operating plan early, which should move DDR closer towards its goal of achieving blue chip status in the REIT space. This should result in further multiple expansion as DDR is trading at 16.6x P/FFO vs. its Shopping Center REIT peers at 19.4x and "blue chip" Retail REITs between 19.5x-23.5x."

The firm raised FY 2014 EPS from $1.21 to $1.22.

For an analyst ratings summary and ratings history on DDR Corp. click here. For more ratings news on DDR Corp. click here.

Shares of DDR Corp. closed at $18.56 yesterday.

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