UBS Upgrades General Growth Properties (GGP) to Buy; Upside Catalysts in a Few Different Buckets
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Price: $22.06 --0%
Rating Summary:
10 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
10 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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UBS upgraded General Growth Properties (NYSE: GGP) from Neutral to Buy. PT raised from $17 to $20.
Analyst, Christy McElroy, said, "Following solid Q112 results and increased visibility on capital markets initiatives and the value creation pipeline, we have greater confidence in the ability of GGP’s (relatively) new management team to execute on earnings and balance sheet targets. Following the Rouse spin-off in Q1 and through continued dispositions of non-core assets, we think the company is successfully transforming into one of the leading Class A mall REITs, and we expect that perception to ultimately be reflected in the valuation over time." (FY12 EPS estimate raised from $0.93 to $0.94 and FY13 from $1.02 to $1.06)
For an analyst ratings summary and ratings history on General Growth Properties click here. For more ratings news on General Growth Properties click here.
Shares of General Growth Properties closed at $17.93 yesterday.
Analyst, Christy McElroy, said, "Following solid Q112 results and increased visibility on capital markets initiatives and the value creation pipeline, we have greater confidence in the ability of GGP’s (relatively) new management team to execute on earnings and balance sheet targets. Following the Rouse spin-off in Q1 and through continued dispositions of non-core assets, we think the company is successfully transforming into one of the leading Class A mall REITs, and we expect that perception to ultimately be reflected in the valuation over time." (FY12 EPS estimate raised from $0.93 to $0.94 and FY13 from $1.02 to $1.06)
For an analyst ratings summary and ratings history on General Growth Properties click here. For more ratings news on General Growth Properties click here.
Shares of General Growth Properties closed at $17.93 yesterday.
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