Market Overview

UPDATE: Bank of America Raises PT on Kennedy-Wilson Holdings on European Bank Deleveraging

Share:
Related KW
Jones Lang LaSalle Hits 52-Week High: Is It The Right Time To Buy?
Kennedy Wilson And Partner Complete 66 Multifamily Units At The Rock, With 167 More In Progress
Can CBRE Group (CBG) Grow on the Back of Acquisitions? - Analyst Blog (Zacks)

In a report published Friday, Bank of America analyst David Ridley-Lane reiterated a Buy rating on Kennedy-Wilson Holdings (NYSE: KW), and raised the price target from $16.00 to $19.00.

In the report, Ridley-Lane noted, “KW will continue to benefit from European bank deleveraging, in our view. In 2012, KW and its third-party investors acquired bought commercial real estate loans with unpaid principal balance of $1.4bn at a 35% discount on average. With a healthy pipeline of opportunities ahead, KW raised additional equity for co-investments. On 3/14, KW sold 9.0mn shares for $15.70, raising ~$133mn after fees. Underwriters have the option to purchase an additional 1.35mn shares.”

Kennedy-Wilson Holdings closed on Thursday at $15.80.

Latest Ratings for KW

DateFirmActionFromTo
Jan 2015Deutsche BankMaintainsBuy
Sep 2014Deutsche BankMaintainsBuy
Apr 2014Bank of AmericaMaintainsBuy

View More Analyst Ratings for KW
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Analyst Ratings

 

Related Articles (KW)

Around the Web, We're Loving...