William L. Moore
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William L. Moore in Insider trading,

CBL Is Now 'Too Cheap To Ignore' Says Jefferies

Shares of CBL & Associates Properties, Inc.  are trading up more than 5 percent after Jeffries analysts upgraded it from Hold to a Buy rating. The analysts boosted the price objective from $10.50 to $16.

The brokerage believes the stock can't be ignored as the execution makes it too cheap. The analysts aren't worried about the issues that CBL is facing due to the retail environment. Jeffries thinks the risk-reward is favorable citing valuation apart from its view that portfolio enhancement would continue next year.

The analysts pointed out there is no impact on CBL following the completion of the SEC investigation. The company is at an advantageous position to reposition its vacant stores afterSears started closing stores in an orderly manner.

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