Insignia Financial is the firm's top pick. Trading at $9.50, its12-month target price for the stock is $20. It currently trades ata 2000 estimated enterprise value/EBITDA multiple of just 1.9x,versus the sector at 3.6x. If Insignia's multiple matched that ofits peers, its stock would be at $16 now, the report says.
Trammel Crow, the other top pick, has run up 24% since March 31and now trades at an enterprise value/EBITA multiple of 4.8x. Itnow trades at $14.59 Banc of America's 12-month target price is$19.
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