Jefferies Reiterates Buy on Ramco-Gershenson (RPT)

Jefferies is out with its report this morning on Ramco-Gershenon RPT, reiterating Buy and a $15 PT. In a note to clients, Jefferies writes, "Given the valuation discount and our expectation of strong 2012 earnings growth, RPT screens as one of the more attractive 'Growth at a Reasonable Price' (GARP) stories in the shopping center REIT space. While 2011 earnings is a disappointment, we believe 2012/2013 earnings growth is attractive, especially given the current valuation discount. We reiterate our Buy rating and $15 PT." Shares of RPT closed yesterday at $13.13, up 2.18% from Wednesday's close.