BTIG Gives a Buy Rating to Kennedy-Wilson

By Carrie Williams

In a report released yesterday, Mark Palmer from BTIG assigned a Buy rating to Kennedy-Wilson (NYSE: KW), with a price target of $33. The company’s shares opened today at $19.65.

Palmer wrote:

“There’s One Less Reason Not to Buy Inexpensive KW We suspect that some investors have been holding off on buying shares of Kennedy Wilson Holdings (KW) until after shareholders of the company and of Kennedy Wilson Europe (KWE, Not Rated) voted to approve the former’s acquisition of the latter, perhaps because KW’s initial offer for KWE met with resistance among some hedge funds.”

According to TipRanks.com, Palmer is a 4-star analyst with an average return of 4.5% and a 56.9% 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.

The company has a one-year high of $23 and a one-year low of $17.95. Currently, Kennedy-Wilson has an average volume of 601.2K.

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Prospect Acquisition Corp. is a blank check development stage company formed for the purpose of acquiring a business through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, and other similar business combination. The company was founded on July 9, 2007 and is headquartered in Naples, FL.