General Growth Properties Given New $28.00 Price Target at Barclays (GGP)
Equities researchers at Barclays boosted their target price on shares of General Growth Properties (NYSE:GGP) from $27.00 to $28.00 in a research report issued on Monday. The firm currently has an “overweight” rating on the stock. Barclays’ target price indicates a potential upside of 16.96% from the stock’s previous close.
Shares of General Growth Properties (NYSE:GGP) traded down 0.66% during mid-day trading on Monday, hitting $23.94. 1,940,097 shares of the company’s stock traded hands. General Growth Properties has a 1-year low of $18.67 and a 1-year high of $24.35. The stock has a 50-day moving average of $23.78 and a 200-day moving average of $22.37. The company has a market cap of $21.456 billion and a P/E ratio of 52.74.
General Growth Properties (NYSE:GGP) last announced its earnings results on Monday, April 28th. The company reported $0.31 earnings per share for the quarter, missing the analysts’ consensus estimate of $30.00 by $29.69. During the same quarter last year, the company posted $0.25 earnings per share. Analysts expect that General Growth Properties will post $1.32 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of General Growth Properties in a research note on Thursday, May 1st. They now have a $26.00 price target on the stock. Separately, analysts at Imperial Capital raised their price target on shares of General Growth Properties from $21.00 to $22.00 in a research note on Wednesday, April 30th. Finally, analysts at Oppenheimer raised their price target on shares of General Growth Properties from $23.00 to $26.00 in a research note on Tuesday, April 29th. They now have an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. General Growth Properties has an average rating of “Buy” and an average price target of $24.43.
General Growth Properties, Inc is a real estate investment trust (NYSE:GGP).
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