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Fly News Breaks for May 28, 2019
STAR
May 28, 2019 | 07:57 EDT
As previously reported, Raymond James analyst Stephen Laws upgraded iStar to Outperform from Market Perform with a price target of $12.50. The analyst cites the company's progress in resolving its legacy assets, the impact of its recent investments, and his view of a "significant discount" in its valuation relative to the adjusted book value on the stock. Based on the company's stock repurchases since the end of March, Laws also estimates the adjusted book value for iStar at $16.93 per share vs. $10.43 that the company last reported.
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