Market Overview

MPG Shares Surge Amid Rumor of Interest by Investors, Compass Point Says Portfolio of Buildings Could Be Valued at $4.30-5.60/Share

Share:
Related MPG
Bank Of America Lowers Auto Sales Expectations: Here's Why
Despite Strong Earnings, Goldman Remains Cautious On Auto Suppliers

Shares of MPG Office Trust (NYSE: MPG) have rallied more than 10 percent Tuesday morning following early-morning headlines from Bloomberg which suggested Robert Maguire, the founder of a predecessor to MPG, and several other investors may be planning a bid for the remaining buildings in LA owned by MPG.

A research note from Compass Point's Wilkes Graham added fuel to the rumor fire, saying Maguire could value the portfolio of MPG buildings in the range of $4.30-5.60 per share. Graham said this price considers unrestricted cash as well as property-level debt.

Compass Point maintains a Buy rating and $3.50 price target on shares of MPG.

Latest Ratings for MPG

DateFirmActionFromTo
Jun 2016Bank of AmericaDowngradesBuyNeutral
Jan 2016BairdDowngradesOutperformNeutral
Jan 2016BarclaysMaintainsEqual-weight

View More Analyst Ratings for MPG
View the Latest Analyst Ratings

Posted-In: Analyst Color News Rumors Analyst Ratings Movers

 

Related Articles (MPG)

View Comments and Join the Discussion!