In a report published Tuesday, Morgan Stanley analyst Vance H. Edelson upgraded the rating on First Potomac Realty Trust FPO from Equal-Weight to Overweight, and raised the price target from $13.00 to $18.00.
In the report, Edelson noted, “Our property deep-dive suggests the market is underestimating the eventual NAV creation through the repositioning of FPO's portfolio. Our NAV estimate of $18.30 is 22% above the current stock price. We believe FPO will achieve higher-than-expected occupancy through 1) new portfolio management initiatives and 2) progress on redevelopment properties and our broker channel checks support our view.”
First Potomac Realty Trust closed on Monday at $14.48.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in