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UPDATE: Stifel Nicolaus Downgrades Mission West Properties to Hold on Valuation

Related MSW
Stocks To Watch For December 27, 2012
Mission West Properties Completes Sale Of Properties

Stifel Nicolaus reduced its rating on Mission West Properties (NASDAQ: MSW) from Buy to Hold and removed its previous $9.20 price target.

Stifel Nicolaus commented, "On 11/02/12, Mission West formally announced the sale, that shareholders will be paid $9.20-$9.28 depending on dividends paid, and that closing is expected by YE12. As the share price is now $9.12, we are downgrading to Hold. We do not expect another bidder to become involved, and think a YE12 time frame may prove aggressive. At $9.25/sh, MSW is valued at a 6.6% implied NOI cap rate and $175/SF. Assuming the MicroSoft and Apple, Inc. campuses are worth $350/SF or $349mm, the remaining assets are valued at $148/SF."

Mission West Properties closed at $9.12 on Friday.

Latest Ratings for MSW

DateFirmActionFromTo
Dec 2012Stifel NicolausDowngradesBuyHold
Nov 2012Stifel NicolausUpgradedHoldBuy
Mar 2012Stifel NicolausDowngradesBuyHold

View More Analyst Ratings for MSW
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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