COF – Credit Suisse rates the stock as Downgrade to Neutral

Credit Suisse revises estimates post the recent update, with FY21-23 forecasts for earnings per security increased to 2.2%.

The broker expects earnings will get worse before they get better although market transaction evidence remain supportive of metropolitan office values.

A decline in earnings is expected in FY22 owing to lease surrender payments received in FY21. Rating is downgraded to Neutral from Outperform and the target is raised to $2.20 from $2.14.

Sector: Real Estate.

 

Target price is $2.20.Current Price is $2.20. Difference: $0.00 – (brackets indicate current price is over target). If COF meets the Credit Suisse target it will return approximately 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

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