In a report published Wednesday, Mizuho Securities analyst Richard Anderson downgraded the rating on Douglas Emmett DEI from Buy to Neutral, and lowered the price target from $33.00 to $29.00.
In the report, Mizuho Securities noted, “We are lowering our rating from Buy to Neutral and our price target from $33 to $29. After a review of our model, we think there is a reasonable possibility that Street estimates will come down before or after the 4Q14 print. And while we continue to think DEI is destined for a positive fundamental turn this year, we believe the negative investor sentiment that exists today will require a pristine earnings performance that may not materialize based on our fresh analysis. For new office REIT money, buy BXP or BDN instead.”
Douglas Emmett closed on Tuesday at $29.55.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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