Market Overview

UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on Parkway Properties

Related PKY
Here's What Insiders Have Been Buying Recently
UPDATE: Raymond James Reiterates On Parkway Properties On Lowered Estimates

In a report published Monday, BMO Capital Markets reiterated its Market Perform rating on Parkway Properties (NYSE: PKY), and raised its price target from $12.00 to $14.00.

BMO Capital noted, “We are increasing our 2012 and 2013 FFO estimates by $0.08 and $0.09, respectively, to $1.33 and $1.35. However, this change is mainly definitional as our estimate methodology is NAREIT + acquisition costs, whereas PKY's guidance of $1.24-$1.30 is pure NAREIT. For example, our $1.33/share official estimate for 2012 equates to $1.26 on a NAREIT basis (our previous estimates did not reflect this distinction). That being said, PKY has done a solid job transitioning the story and, as we discuss above, the new leadership at PKY deserves credit for that. Target to $14 from $12.”

Parkway Properties closed on Friday at $13.75.

Latest Ratings for PKY

DateFirmActionFromTo
Dec 2014Stifel NicolausDowngradesBuyHold
Sep 2014Wells FargoUpgradesMarket PerformOutperform
Sep 2014Capital One FinancialInitiates Coverage onEqual-weight

View More Analyst Ratings for PKY
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

Related Articles (PKY)

Around the Web, We're Loving...

Get Benzinga's Newsletters