Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

CIBC World Upgrades PS Business Parks

CIBC World Markets upgrades PS Business Parks (PSB) to strong buy from buy. Late last week, the company acquired MetroPark North in Rockford, Md., for about $172 million.

Analyst Michael Mueller upgrades the stock on expected increased cash flow from the MetroPark North deal. He says the deal should add incremental $0.30 per share annually to the current run rate. He raises $3.14 '01 funds from operations (FFO) estimate to $3.15, and $3.40 '02 estimate to $3.50. He notes that the former '02 estimate assumed just $125 million of acquisitions that were spread throughout the year; the company's fourth quarter purchases of MetroPark North and Cornell Oaks Corporate Center alone have already exceeded his '02 full-year projection

He raises $31 price target to $36.

blog comments powered by Disqus