Loading...
Loading...
In a report published Friday, Bank of America analyst David Ridley-Lane reiterated a Buy rating on Kennedy-Wilson Holdings
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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