UPDATE: Stifel Nicolaus Upgrades MPG Office Trust to Hold on Tax Loss Carry Forward

Stifel Nicolaus upgraded MPG Office Trust (NYSE: MPG) from Sell to Hold. Stifel Nicolaus noted, "We are upgrading MPG Property Trust from Sell to Hold as we now believe California has permitted the use of Net Operating Loss Carry Forwards to offset taxable gains for the 2012 tax year. In 2010-2011 the offset was not permitted. … We have adjusted our liquidation model, but still assume some tax liability remains possible. The net adjustment adds roughly $1.00/sh to our estimate of liquidation value." MPG Office Trust closed at $2.63 on Friday.