MLV Reiterates Buy On DDR Corp Shares, $20 PT
In a research report issued Tuesday, MLV analyst Paul Morgan reiterated a Buy rating on DDR Corp (NYSE:DDR) with a price target of $20.
Morgan noted, “Operating metrics were strong, led by leasing spreads of +11%, up 170bps sequentially and 240bps year-over-year. Portfolio occupancy increased 30bps sequentially to 95.6%, a new post-recession high. Deal flow was very active as the company completed $699M of transactions during the quarter. Management narrowed FY14 guidance by a penny at both ends to to $1.15-$1.17 and reiterated optimism towards the outlook of the business.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Paul Morgan has a total average return of 12.2% and a 100.0% success rate. Morgan has a 5.0% average return when recommending DDR, and is ranked #1297 out of 3349 analysts.