Mission West "buy," target price raised

10/17/03 - BB&T Capital Markets

NEW YORK, October 17 (New Ratings) – Analysts at BB&T Capital Markets reiterate their "buy" rating on Mission West Properties (MSW). The target price has been raised from $12.50 to $14.50.

In a research note published this morning, the analysts mention that the company’s Q3 results were flat as compared to the previous quarter, although they were in line with the estimates. The company's stock has the potential for multiple expansion due to the dividend’s safety and yield, the analysts say. BB&T Capital Markets also believes that Mission West is the only pure play REIT in the Silicon Valley, which makes the company’s stock attractive to investors.