KBW Upgrades JOE To Outperform From Market Perform

KBW is upgrading St. Joe Company JOE from Market Perform to Outperform. “We believe there is more upside to St. Joe Company shares and more limited downside risk,” KBW writes. “Shares squeezed 9% higher on takeover chatter, which we place little weight on. We, however, believe shares are poised to move higher in coming months as the economy improves and more positive announcements for JOE are on the horizon.” St. Joe Company closed Wednesday at $19.41.