Albany, New York (09/26/2014) – Glimcher Realty Trust (NYSE:GRT) had its “buy” rating lowered to a “hold” at KeyCorp (KEY). A number of analysts on Wall Street have weighed in on the stock recently, giving it a consensus “hold” rating and average target price of $12. The $1.99 billion REIT recently entered a deal in which it will be acquired by Washington Prime (WPG) for $4.3 billion. The deal values the company at $14.20 per share, which is 34% premium over the closing price before the deal was made public. Shares of the company (NYSE:GRT) declined 0.73%, ostensibly over the concerns raised by investigations launched against its Board. Law office of Brodsky & Smith, LLC announced investigation against the Board of Glimcher Realty Trust (GRT). They question whether the buyout offer accepted from Washington Prime carries the maximum value that shareholders could get out of such a deal.
Vodafone Group Plc (ADR) (NASDAQ:VOD) declined 0.48%, just after the company’s CEO, Vittorio Colao, commented on the complicated business environment in India. The CEO said they look forward to boosting their investment in the country. A decision on that could be out as soon as in two weeks time. However, he was also candid about the atmosphere in India, which he said is complicated because of bureaucratic delays. Nonetheless, Vodafone Group Plc (ADR) (NASDAQ:VOD) considers the new government as being pro-business.
Novavax, Inc. (NASDAQ:NVAX) was reiterated as an “overweight” at Piper Jaffray, buy its target price was raised to $10.50 from $9 in the previous note. The analysts cited various strengths they see in the $1 billion clinical-stage biopharmaceutical company. Among the issues, they aired included the $100 million additional funding from BARDA and the positive Phase 3 data on H7N9 avian flu vaccine. Novavax, Inc. (NASDAQ:NVAX)’s $209 million cash at the end of 2Q2014 was also cited. However, it is worth noting that the company missed consensus estimates in its most recent quarter, and its next quarter is worth watching closely. Its revenue of $8.26 million in 2Q fell short of the estimate of $8.74 million.