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UPDATE: Cantor Fitzgerald Upgrades DuPont Fabros Technology to Buy, Lowers PT

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In a report published Wednesday, Cantor Fitzgerald upgraded its rating on DuPont Fabros Technology (NYSE: DFT) from Hold to Buy, but lowered its price target from $29.50 to $28.00.

Cantor Fitzgerald noted, “We adjust our 2012/2013 FFO/sh. ests. to $1.50/$1.93 from $1.51/$1.90, respectively, versus current consensus estimates of $1.51/$1.85. We adjust our 2012/2013 AFFO/sh. ests. to $1.27 and $1.63, respectively. Our updated NAV/sh. est. is $25.80, a decrease of $0.70 due to a 20bps increase to our applied cap rate. Unlevered/levered 10-yr IRRs are 12%/20%, unchanged from prior hurdles. We are revising our price target to $28.00 from $29.50 due to our revised NAV estimate.”

DuPont Fabros Technology closed on Tuesday at $23.75.

Latest Ratings for DFT

DateFirmActionFromTo
Sep 2014Stifel NicolausInitiates Coverage onHold
Jul 2014BarclaysMaintainsOverweight
Jul 2014CitigroupDowngradesBuyNeutral

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Posted-In: Cantor FitzgeraldAnalyst Color Upgrades Analyst Ratings

 

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