KBW Reiterates OP Rating On JOE

KBW is reiterating its OP rating on shares of The St. Joe Company's JOE. “JOE's Q1 ahead was driven by large timber sale Q1 offset by charges from executive departure,” KBW writes. “Subsequent to quarter, JOE reduced head count again; continued focus on cost cuts including halting construction of headquarters to focus capital on revenue-generating investments. Interim CEO contract extended short term - which leads us to expect additional announcements in the near term. Ests higher. Reiterate OP.” The St. Joe Company closed Friday at $25.49.