UPDATE: JP Morgan Raises PT to $55 on Kilroy Realty on Model Update Following Q4
JP Morgan maintained Kilroy Realty (NYSE: KRC) with an Overweight rating and raised the price target from $53.00 to $55.00.
JP Morgan commented, "We are updating our model and lowering our 2013 FFO estimate $0.05 to $2.50 and maintaining our 2014 FFO estimate of $2.79 post 4Q earnings. Our new 2013 estimate is $0.03 below the midpoint of management's $2.43-2.63 guidance and $0.01 below the Bloomberg consensus. For 2014, our estimate is $0.09 above the Bloomberg Consensus. Note that the 2013 estimate decline is timing related (i.e. an expected 1H dip in occupancy not in our estimates previously), hence our 2014 estimate remaining intact."
Kilroy Realty closed at $51.24 on Monday.
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