Jefferies Upgrades Developers Diversified Re (DDR) to Buy

Earlier, Jefferies upgraded Developers Diversified Re (NYSE: DDR) from Hold to Buy with a price target of $15.

The firm said there is a lot to like about DDR and the recent pullback has created an attractive buying opportunity.

Jefferies analyst highlighted improving portfolio fundamentals, access to capital market has crated an much improved balance sheet, and recent credit rating upgrades. The firm also noted that the comapny is becoming more acquisitive, is ramping up its redeployment pipeline and management has proven its ability to execute.

For more ratings news on Developers Diversified Re click here and for the rating history of Developers Diversified Re click here.

Shares of Developers Diversified Re closed at $12.40 yesterday.

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