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LPT

Liberty Property

$41.51

1.285 (3.19%)

, CMCSA

Comcast

$35.63

-0.12 (-0.34%)

19:10
10/23/18
10/23
19:10
10/23/18
19:10

Liberty Property price target lowered to $47 at MUFG after Q3 results

MUFG analyst Karin Ford lowered her price target on Liberty Property (LPT) to $47 from $49 after its Q3 results, stating the FFO beat was "almost" overshadowed by its announcement of a full exit from its remaining non-industrial portfolio. The analyst also keeps her Overweight rating, adding that there was no news on the Comcast (CMCSA) cost overruns and Camden development while also noting that the REIT still has the industrial fundamental runway to justify expectations of FFO growth in 2020.

LPT

Liberty Property

$41.51

1.285 (3.19%)

CMCSA

Comcast

$35.63

-0.12 (-0.34%)

  • 23

    Oct

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LPT Liberty Property
$41.51

1.285 (3.19%)

01/22/18
RHCO
01/22/18
UPGRADE
RHCO
Buy
Liberty Property upgraded to Buy from Hold at SunTrust
01/22/18
RHCO
01/22/18
UPGRADE
Target $45
RHCO
Buy
Liberty Property upgraded to Buy at SunTrust on NOI growth prospects
As reported earlier, SunTrust analyst Ki Bin Kim upgraded Liberty Property to Buy from Hold and raised its price target to $45 from $43. Kim cites an attractive valuation of 15.6-times price to FFO relative to the Industrial REITs' average of 20.5-times, as well as the company's improving net operating income growth prospects.
06/15/18
JPMS
06/15/18
UPGRADE
Target $44
JPMS
Neutral
Liberty Property upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Anthony Paolone upgraded Liberty Property Trust to Neutral and raised his price target for the shares to $44 from $41. The stock offers an above average dividend yield relative to peers, which could make it attractive for value-oriented investors, the analyst contends. Further, he likes the shift management has been making by disposing of non-core office assets and reinvesting the proceeds into industrial developments.
07/24/18
MUFG
07/24/18
NO CHANGE
Target $42
MUFG
Overweight
Recent weakness in Liberty Property is a buying opportunity, says MUFG
MUFG analyst Karin Ford keeps her Overweight rating and $42 price target on Liberty Property after its mixed Q2 results, with "noise related to two office developments" overshadowing a beat and raise in the core industrial portfolio. The analyst contends that the management is executing well in its portfolio recycling plan otherwise, as its same-store net operating income of 5.5% exceeded expectations. Ford further suggests that the recent weakness in the stock is "an attractive buying opportunity" given the REIT's runway for above-trend industrial growth and development pipeline, which may also produce a privatization bid if the "non-core noise" continues.
CMCSA Comcast
$35.63

-0.12 (-0.34%)

10/18/18
EVER
10/18/18
INITIATION
Target $44
EVER
Outperform
Comcast initiated with an Outperform at Evercore ISI
Evercore ISI analyst Vijay Jayant resumed coverage on Comcast with an Outperform and $44 saying the Sky transaction diversifies the company's business internationally, with free cash flow share accretion in 2019E.
10/18/18
10/18/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL) initiated with an Outperform at Wedbush. 2. BJ's Wholesale (BJ) initiated with a Perform at Oppenheimer. 3. Comcast (CMCSA) initiated with an Outperform at Evercore ISI. 4. Thomson Reuters (TRI) reinstated with a Neutral at Goldman Sachs. 5. Atomera (ATOM) initiated with a Buy at Roth Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/23/18
GUGG
10/23/18
INITIATION
Target $38
GUGG
Neutral
Comcast assumed with a Neutral at Guggenheim
Guggenheim analyst Mike McCormack assumed coverage of Comcast with a Neutral rating and $38 price target.
10/23/18
10/23/18
NO CHANGE

Guggenheim assumes select Cable/Satellite names with positive outlook
Guggenheim analyst Mike McCormack assumed coverage of select Cable & Satellite Services companies with a positive outlook, saying that while each company is facing "video headwinds", they also offer shared catalysts of "the demand for broadband connectivity, increasingly faster speeds, and new wireless products". The analyst assumes Altice USA (ATUS), Charter (CHTR) and Dish (DISH) with Buy ratings and Comcast (CMCSA) with a Neutral rating, adding that its "business is in transition" with core risks around domestic and international operations. McCormack puts a $23 price target on Altice USA, $400 price target on Charter, $38 price target on Comcast, and a $50 price target on Dish, adding that the "importance of the bundle is diminishing" and the focus shifts to the scope of connectivity coverage. The analyst also expects the "younger demographic" to continue to seek out "lower cost, apps-based alternatives, with an eye towards free/cheap, but high-demand content".

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