KeyBanc Upgrades Taubman Centers (TCO) to Hold

KeyBanc upgraded Taubman Centers (NYSE: TCO) from Underweight to Hold.

The firm comments, "TCO owns one of the highest quality mall portfolios, which we expect will generate above-average NAV and earnings growth over the next several quarters; a lack of new supply for high quality, luxury retail centers has created steady demand for space within existing assets. Our downside bias had been valuation driven, though cap rates for high quality, irreplaceable assets continue to decline. Our revised NAV estimate of $77.47/share reflects a 50 basis point decrease in our applied, nominal cap rate to 5.25%"

For an analyst ratings summary and ratings history on Taubman Centers click here. For more ratings news on Taubman Centers click here.

Shares of Taubman Centers closed at $79.85 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• The tech crown switches hands: Apple dethrones Nvidia as $4 trillion king
• Nolan’s ’The Odyssey’ eyes $200M global debut, benefiting IMAX and theater stocks
• JPMorgan upgrades 3M, Emerson Electric to Overweight ahead of earnings