Fortress (NYSE:FIG): Upgraded to Overweight at Barclays; target to $9
Source: http://notablecalls.blogspot.com/2009/09/fortress-nysefig-upgraded-to-overweight.htmlPosted on Wednesday, September 9th, 2009 | In Market Commentary
Contributed by: Notable Calls (http://notablecalls.blogspot.com/) -
Just a quick heads up,
Fortress Investment Group (NYSE:FIG) is upgraded to Overweight from Equal Weight while raising their target price to $9 (!) from $3.
- Firm notes the revised price target is based on 18x their 2010 EPS of $0.48, whereas their prior price target was based on 11x firm’s previous 2009 EPS estimate of $0.27.
Notablecalls: Note this call is part of a larger Alternative Asset managers call but FIG kind of stands out with the upside.
I think FIG can go to $5 (or higher) following this call.
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