MUFG SecuritiesAmericas Inc. analyst KarinFord initiated coverage of LibertyProperty Trust with a rating of "overweight," and a pricetarget of $41.
The analystwrote in a research report: "We view Liberty as an inexpensive way togain exposure to attractive industrial fundamentals, enhanced by a self-funded developmentpipeline and an office portfolio at a favorable stage of the cycle. Positive leasingtrends over the last few months make us optimistic that industrial fundamentalscould be more resilient than the market expects and that LPT's disappointing 2017guidance could prove conservative. Moreover, a cleaner story and balance sheet,coupled with improving 2018 growth prospects, could translate to multiple expansion,in our view."