The St. Joe Company (JOE) - Bull of the Day
We have changed our long-term recommendation for The St. Joe Company ( JOE ) from Neutral to Outperform as we anticipate it to perform well above the broader market. St. Joe is currently in defensive mode and continues to reduce capital expenditures through stringent cost-cutting measures and reduction in operating expenses. 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. The elimination of debt greatly reduces the risk to shareholders.
In addition, the company has adequate liquidity to satisfy its near-term working capital needs and capital expenditures. Our long-term Outperform recommendation on the stock indicates that it would perform well above the broader market.
ST JOE CO (JOE): Free Stock Analysis Report
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