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CBL

CBL & Associates

$4.69

-0.535 (-10.25%)

06:18
08/07/18
08/07
06:18
08/07/18
06:18

CBL & Associates downgraded to Sell from Neutral at BTIG

BTIG analyst James Sullivan downgraded CBL & Associates to Sell from Neutral with a price target of $2.50 after the company warned in its earnings call that a dividend cut in FY19 is possible. The analyst cites the REIT's declining same-store net operating income, capital needs of its portfolio, and a high debt load while re-negotiating its bank lines ahead of a maturing term loan facility next year. Sullivan adds that while CBL's guidance implies some improvement in the second half of this year, its "weaker sales productivity" suggests that the rebound will be more shallow than that of its peers, anticipating a dividend cut of 30%-50%.

CBL CBL & Associates
$4.69

-0.535 (-10.25%)

12/14/17
SBSH
12/14/17
DOWNGRADE
Target $4
SBSH
Sell
CBL & Associates downgraded to Sell from Neutral at Citi
Citi analyst Michael Bilerman downgraded CBL & Associates to Sell and cut his price target for the shares to $4 from $6. The analyst sees continued risk heading into 2018 relative to fundamental trends and availability and cost of capital.
12/20/17
RAJA
12/20/17
DOWNGRADE
RAJA
Underperform
CBL & Associates downgraded to Underperform at Raymond James
Raymond James analyst Collin Mings downgraded CBL & Associates to Underperform from Market Perform saying 2018 consensus estimates need to be reset lower, the company is disproportionately impacted by shifting consumer preferences, and capital allocation priorities will be difficult to balance. Mings expects results to be pressured for the foreseeable future from to occupancy pressure, leasing spreads and NOI.
12/21/17
JEFF
12/21/17
DOWNGRADE
JEFF
Underperform
CBL & Associates downgraded to Underperform from Hold at Jefferies
12/21/17
JEFF
12/21/17
DOWNGRADE
Target $4
JEFF
Underperform
CBL & Associates downgraded to Underperform from Hold at Jefferies
Jefferies analyst Omotayo Okusanya downgraded CBL & Associates to Underperform saying the shares will "remain impaired" in 2018 as the retail environment remains challenged. The analyst cut his price target for the shares to $4 from $5.

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