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UPDATE: Jefferies Initiates Lexington Realty Trust at Buy; Defensive Play

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Jefferies initiated coverage on Lexington Realty Trust (NYSE: LXP) with a Buy rating and an $11 price target.

Jefferies noted, "We are initiating coverage of LXP with a Buy rating and $11 PT. The portfolio of net-leased assets and the well covered 6.0% dividend yield provide a solid defensive position in an uncertain U.S economy. We also expect LXP's stock to experience multiple expansion over the next 12-24 months through 1) further de-levering of the balance sheet, 2) a broader suburban office recovery, and 3) LXP lengthening its portfolio lease duration."

Lexington Realty Trust closed at $10.11 on Wednesday.

Latest Ratings for LXP

DateFirmActionFromTo
Jul 2016JefferiesDowngradesBuyHold
Jun 2016Evercore ISI GroupDowngradesBuyHold
May 2016Ladenburg ThalmannDowngradesBuyNeutral

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Posted-In: JefferiesAnalyst Color Initiation Intraday Update Analyst Ratings

 

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