BTIG Reiterates a Buy Rating on Kennedy-Wilson

By George MacDonald

According to The Fly, in a report released today, Mark Palmer from BTIG reiterated a Buy rating on Kennedy-Wilson (NYSE: KW), with a price target of $33. The company’s shares opened today at $18.12.

Palmer said, ““Brexit” Vote, KW Poised to Gain from Dislocations While we had already considered international real estate investment, services and fund management firm Kennedy-Wilson Holdings (KW, Buy, $33 PT) to be misunderstood, we view the weakness in the company’s shares in the aftermath of the UK’s “Brexit” vote as providing the latest evidence of investor confusion about the name.   As such, we are reiterating our Buy recommendation on KW and price target of $33 based on our net asset value (NAV) analysis. We believe “Brexit” is much more of an opportunity for the company than a threat given its partial ownership of the company with expertise in investing in distressed real estate assets in the UK and throughout Europe.”

According to, Palmer is ranked 0 out of 5 stars with an average return of -13.4% and a 31.8% success rate. Palmer covers the Financial sector, focusing on stocks such as Santander Consumer USA, Assured Guaranty Ltd, and Synchrony Financial.

Currently, the analyst consensus on Kennedy-Wilson is Moderate Buy and the average price target is $31, representing a 71.1% upside.

In a report issued on June 21, Deutsche Bank also maintained a Buy rating on the stock with a $31 price target.

The company has a one year high of $25.93 and a one year low of $15.51. Currently, Kennedy-Wilson has an average volume of 493.8k.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KW in relation to earlier this year. Most recently, in September 2012, Kent Mouton, a the General Counsel of KW sold 10,000 shares for a total of $144,500.

Kennedy-Wilson Holdings, Inc. is an international real estate investment and services company. The company provides a diversified array of real estate investments and services in the U.S., Europe and Japan. It operates through two segments: KW Investments and KW Services. The KW Investments segment invests its capital in real estate-related assets. KW Services segment provides a full array of real estate-related services to owners and lenders. Kennedy-Wilson Holdings was founded in 1977 and is headquartered in Beverly Hills, CA.