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Fly News Breaks for December 31, 2018
STAR
Dec 31, 2018 | 07:43 EDT
JMP Securities analyst Steven Delaney upgraded iStar (STAR) to Outperform from Market Perform with an $11.50 price target. If the target price is achieved, the shares would provide upside of 25% and a potential 12-month total return of 30%, including the 44c of cash dividends projected for 2019, Delaney tells investors in a research note. The analyst sees an attractive entry point with iStar shares down 17.5% from September 30 compared to a median drop of 7.9% for the commercial mortgage real estate investment trust peer group.
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