General Growth Properties Given New $27.00 Price Target at Deutsche Bank (GGP)
Analysts at Deutsche Bank increased their target price on shares of General Growth Properties (NYSE:GGP) from $26.00 to $27.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price target would suggest a potential upside of 17.14% from the company’s current price.
General Growth Properties (NYSE:GGP) traded down 1.28% during mid-day trading on Tuesday, hitting $23.05. 2,427,554 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 $24.38. The stock has a 50-day moving average of $23.76 and a 200-day moving average of $22.68. The company has a market cap of $20.371 billion and a price-to-earnings ratio of 55.46.
General Growth Properties (NYSE:GGP) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.01. The company had revenue of $617.62 million for the quarter, compared to the consensus estimate of $606.60 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts predict that General Growth Properties will post $1.32 earnings per share for the current fiscal year.
GGP has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of General Growth Properties in a research note on Tuesday, July 29th. They now have a $26.00 price target on the stock, up previously from $25.00. Analysts at Barclays raised their price target on shares of General Growth Properties from $27.00 to $28.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $24.88.
General Growth Properties, Inc is a real estate investment trust (NYSE:GGP).
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