UPDATE: Morgan Stanley Downgrades CBL & Associates Properties to Underweight
According to Morgan Stanley, CBL & Associates Properties (NYSE: CBL) is downgraded to Underweight.
Morgan Stanley said that valuation has recovered from last summer, reflecting a more constructive financing backdrop for B-malls. “Persistent leasing headwinds & a shifting risk/reward for CMBS spreads combine to spur us to revert to our UW rating.”
CBL & Associates Properties closed yesterday at $17.80.
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