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UPDATE: Compass Point Reiterates On Alexander & Baldwin As Grace, NOI Tick Higher


In a report published Friday, Compass Point analyst Wilkes Graham reiterated a Buy rating on Alexander & Baldwin (NYSE: ALEX), and raised the price target from $58.00 to $60.00.

In the report, Compass Point noted, “We are reiterating our Buy rating and raising our price target to $60 from $58 on shares of ALEX. After a thorough review of the company's 10Q (filed August 8), we are publishing our updated valuation model for the company. We are increasing our NAV to $60 from $58 primarily as a result of ALEX's ramp up in NOI and strength in Grace's backlog (up 15% yoy). We believe that Kukui'ula will continue to be the key dial-moving asset of our NAV as price and pace continue to excel and beat our (and the Street's) expectations while (1) updates on future developments, (2) migration of mainland assets back to HI, and (3) government paving contract awards all remain as future catalysts for the stock. Below, we include the most interesting and relevant information disclosed in the earnings release and 10Q as well as recent updates.”

Alexander & Baldwin closed on Thursday at $40.51.

Latest Ratings for ALEX

Feb 2018UpgradesMarket PerformMarket Outperform
Aug 2016DowngradesMarket OutperformMarket Perform
Sep 2015MaintainsBuy

View More Analyst Ratings for ALEX
View the Latest Analyst Ratings

Posted-In: Compass Point Wilkes GrahamAnalyst Color Price Target Analyst Ratings


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