UPDATE: Huge Cash Surplus by The St. Joe Company Leads to Raymond James Upgrade

In a report issued Friday, Raymond James upgraded its rating of The St. Joe Company JOE from Market Perform to Outperform with a target price of $25.

A team of analysts led by Buck Horne sees that with a huge cash surplus The St. Joe Company will be well poised for future development plans and growth as whole in the company. Their new project
"Watersound " will be the largest retirement community in the world when its completed and would be a driving force behind future success of the company.

Horne and his team estimate an EPS of $0.02 for 2014 and $0.12 for 2015.

The St. Joe Company will open up at $21.59 on Friday.