UPDATE: Mizuho Securities Downgrades Douglas Emmett to Neutral, Lowers PT on Anticipation of Imperfect 2015

In a report published Wednesday, Mizuho Securities analyst Richard Anderson downgraded the rating on

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.