Real Estate Developer St. Joe Slides Due to Gulf Oil Spill (JOE)

Shares of St. Joe Company JOE have fallen in recent months as the fallout from the oil spill worsened. St. Joe is a real estate developer operating mostly in northern Florida. Keefe, Bruyette & Woods analysts Sheila McGrath and Kristin Brown said, "We believe JOE will stay in a near-term trading range, w/big move down behind it, until there is some visibility on the magnitude of the impact of the spill to the Panhandle (specifically to JOE's region) and visibility on JOE's recourse to BP. Lowering PT." JOE is currently rated Market Perform, with a price target of $30.00. JOE is trading at $24.28.