Piper Sandler lowered the firm’s price target on Alexander & Baldwin to $22 from $24 and keeps an Overweight rating on the shares following quarterly results. The firm notes Alexander & Baldwin started strong across industrial leasing, land sales, and new investments. Management entered the year assuming 1c of external growth and 3c of land sales, which has already been achieved. Thus, the 3c increase to guidance reflects the outperformance on land sales in Q1, Piper adds.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALEX:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue