Kennedy-Wilson Gets a Buy Rating from BTIG

By Ryan Adsit

BTIG analyst Mark Palmer reiterated a Buy rating on Kennedy-Wilson (NYSE: KW) on June 22 and set a price target of $33. The company’s shares closed last Friday at $18.55.

Palmer observed:

“Examined; Conclusion: Attractive Buying Opportunity Shares of Kennedy Wilson Holdings (KW) have declined by more than 19% since the company on April 24 announced an agreement to buy Kennedy Wilson Europe (KWE, Not Rated) in an all-stock deal, and we have heard investors express their bafflement at the stock’s poor performance following what appeared to be a good deal for KW and its future prospects. Yet more investors have been confused by the stock’s continued weakness after KW countered a challenge to its initial offer by a prominent KWE shareholder by putting forth a revised deal in which it would provide cash and a special dividend as part of the total consideration while owning a higher percentage of KWE.”

According to TipRanks.com, Palmer is a 4-star analyst with an average return of 2.5% and a 51.4% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Assured Guaranty Ltd, and Synchrony Financial.

Kennedy-Wilson has an analyst consensus of Moderate Buy, with a price target consensus of $33.

Kennedy-Wilson’s market cap is currently $2.12B and has a P/E ratio of 219.53. The company has a book value ratio of 2.0724.

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Kennedy-Wilson Holdings, Inc. is a global real estate investment company, which engages in the ownership, operation, and investment in real estate through its investment platform. It operates through KW Investments, and KW Investment Management and Real Estate Services (IMRES) segments. The KW Investments segment invests the capital of the company in real estate assets and loans secured by real estate either on its own or with strategic partners through publicly traded companies, joint ventures, separate accounts, and funds. The IMRES segment includes the investment management platform of the company along with its property services, research, brokerage and auction, and conventional sales divisions. The company was founded in 1977 and is headquartered in Beverly Hills, CA.,089Z4P-E