In a report released yesterday, Tom Catherwood from BTIG reiterated a Buy rating on COPT Defense Properties, with a price target of $38.00.
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Tom Catherwood has given his Buy rating due to a combination of factors influencing COPT Defense Properties’ potential for growth. The recent announcement of Space Command’s relocation to Huntsville, Alabama, presents a significant opportunity for CDP, as the company is well-positioned to meet the real estate needs associated with this move. CDP’s Redstone Gateway, a strategically located parcel adjacent to Redstone Arsenal, offers substantial development rights that can accommodate the anticipated demand from Space Command and its supporting contractors.
Furthermore, CDP’s current development capacity allows it to fund substantial annual development spending while maintaining leverage neutrality. This capability, combined with the company’s proven track record of delivering projects on time and within budget, positions CDP to capitalize on near-term opportunities. Additionally, the company’s valuation, trading at a discount to its net asset value, and the potential for earnings growth in the coming years, support the Buy rating with a $38 price target, implying a significant total return.
In another report released on August 20, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $32.00 price target.