KeyBanc Downgrades First Potomac (FPO) to Hold; Uncertainty Surfaces As Earnings Delayed
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Price: $11.14 --0%
Rating Summary:
4 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 54
Rating Summary:
4 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 54
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KeyBanc downgraded First Potomac (NYSE: FPO) from Buy to Hold.
Analyst, Jordan Sadler, said, "FPO delayed its 1Q earnings announcement due to an ongoing internal investigation associated with the previously disclosed material weakness in the Company's internal control over financial reporting. The Company now plans to report 1Q earnings after the market close on May 10, 2012. Given the uncertainty surrounding the outcome of the investigation and the timing of its completion, we are downgrading our rating...While the reported leasing activity for 1Q12 looks promising and consistent with the velocity needed to achieve management's 2012 targets, we are moving to the sidelines until the investigation is concluded."
For an analyst ratings summary and ratings history on First Potomac click here. For more ratings news on First Potomac click here.
Shares of First Potomac closed at $13.16 yesterday.
Analyst, Jordan Sadler, said, "FPO delayed its 1Q earnings announcement due to an ongoing internal investigation associated with the previously disclosed material weakness in the Company's internal control over financial reporting. The Company now plans to report 1Q earnings after the market close on May 10, 2012. Given the uncertainty surrounding the outcome of the investigation and the timing of its completion, we are downgrading our rating...While the reported leasing activity for 1Q12 looks promising and consistent with the velocity needed to achieve management's 2012 targets, we are moving to the sidelines until the investigation is concluded."
For an analyst ratings summary and ratings history on First Potomac click here. For more ratings news on First Potomac click here.
Shares of First Potomac closed at $13.16 yesterday.
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