The St. Joe Co. (JOE) - Bull of the Day

By Zacks Equity Research,

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The St. Joe Company ( JOE ) reported strong third quarter 2012 results with a healthy year-over-year increase in revenue and EPS, with the latter exceeding the Zacks Consensus Estimate by $0.18. St. Joe is one of the largest real estate developers in Florida.

The company is presently focusing on developing the adjacent area of the Panama-City Bay County Airport, which was opened in late 2010, to increase the future value of its holdings. However, St. Joe's business is primarily concentrated in Florida, which was one of the hardest hit states in the recession and had adversely affected its bottom line in the recent past, thereby undermining the future growth potential to some extent.

Our long-term Outperform recommendation on the stock indicates that it would perform well above the broader market. Our target price of $27.00, 158.8X 2012 EPS, factors in this view.

ST JOE CO (JOE): Free Stock Analysis Report

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Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Investing Ideas , Stocks
Referenced Stocks: JOE

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