UPDATE: Sterne Agee Upgrades DST Systems to Buy, Reiterates $71 PT
In a report published Friday, Sterne Agee Group upgraded its rating on DST Systems (NYSE: DST) from Neutral to Buy, and reiterated its $71.00 price target.
Sterne Agee noted, “We are upgrading DST to a Buy with a $71 price target. 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 on Thursday at $61.85.
Latest Ratings for DST
|Apr 2015||Credit Suisse||Downgrades||Outperform||Neutral|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.