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Oppenheimer Raises Price Target On Duke Realty Corp. As 2015 Low Guidance Is Good

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In a report published Thursday, Oppenheimer analyst Steve Manaker reiterated an Outperform rating on Duke Realty Corp. (NYSE: DRE), and raised the price target from $21.00 to $26.00.

In the report, Oppenheimer noted, “We continue to rate DRE Outperform and believe the company is well positioned to benefit from continued economic strength in the U.S. The company reported 4Q14 in line with our estimates and consensus, but provided initial 2015 guidance below us and consensus due to accelerated asset sales. We view these sales as a positive —DRE's suburban office exposure will decrease to 12% of NOI from 22% and this should boost long-term NOI and FFO growth rates. In addition, the accelerated pace eliminates market risk from the equation. We are raising our price target to $26 from $21, which would provide an 18% total return including the 3% annual dividend yield.”

Duke Realty Corp. closed on Wednesday at $22.30.

Latest Ratings for DRE

DateFirmActionFromTo
Jan 2020DowngradesOutperformMarket Perform
Dec 2019MaintainsEqual-Weight
Oct 2019DowngradesOverweightEqual-Weight

View More Analyst Ratings for DRE
View the Latest Analyst Ratings

Posted-In: Oppenheimer Steve ManakerAnalyst Color Price Target Analyst Ratings

 

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