Cole Real Estate initiated with Buy rating

Cole Real Estate Investments (COLE +0.7%) is initiated a Buy at Ladenburg Thalmann 60 days after the company's IPO. The stock last week was started at Hold with $14 price target by JMP Securities.

A Dutch auction to repurchase up to $250M of stock last week concluded with final purchase price of $12.25 each (vs. the current price of $11.30).

Cole came public in June after fending off a takeover bid from American Realty Capital (ARCP).

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