RAIT Financial Trust: There Is More Upside To RAS Shares Than Downside, Says MLV


MLV analyst Richard Eckert reaffirmed a Buy rating on RAIT Financial Trust (NYSE:RAS) with a $9.00 price target, which represents a potential upside of 25% from where the stock is currently trading.

Eckert noted, “Despite the challenges, we still expect y-o-y increases of 9% and 11% in CAD/share and DPS, respectively, in 2015. Our calculation of the estimated increase in CAD/share excludes a 26ยข settlement with the SEC in 3Q14. Very little of this growth potential appears to be priced into RAS shares, which are trading over 250bp wide of average and median peer on a forward basis (Exhibit 8). Therefore, we continue to believe there is considerably more upside to RAS shares than downside at current market values and we continue to rate them a Buy.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Richard Eckert has a total average return of 5.2% and a 70.0% success rate. Eckert is ranked #1597 out of 3364 analysts.

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