Patient investors should be rewarded by DuPont Fabros Technology (NYSE:DFT), said FBR Capital after hearing from CFO Mark Wetzel at the FBR Fall Investor Conference.
FBR said, "Following the presentation at the FBR Fall Investor Conference yesterday by Mr. Mark Wetzel, CFO of DuPont Fabros, we continue to believe that the patient investor will be rewarded as leasing momentum (despite lumpy leasing) continues into 2011–2012. The stock is currently trading at a 9.6% discount to NAV; however, our price target applies an 8% premium to NAV. Our $27.00 price target currently implies a potential return of 19.5% from yesterday's closing price of $23.20, warranting an Outperform rating."
DuPont Fabros closed at $22.87 Wednesday, rising $0.28, or 1.24 percent. FBR has a price target of $27 on them. They also maintain their "Outperform" rating on the company.
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