UPDATE: Sterne Agee Upgrades DST Systems to Buy on Asset Monetization
Sterne Agee raised its rating on DST Systems (NYSE: DST) from Neutral to Buy with a $71 price target.
Sterne Agee commented, "We believe DST is on a clear path to monetize a significant amount of its non-core assets, something investors have waited years to see. As monetization events occur, we expect the stock to continue to respond positively. Our sum-of-the-parts analysis yields a fair value of $71, but we note that there are multiple points of conservatism in our analysis. On a fundamental basis, we expect to see improving trends in 2013."
DST Systems closed at $61.85 on Thursday.
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