BofA upgraded Acadia Realty Trust to Buy from Neutral with a price target of $20, up from $18. Acadia Realty has a sector leading growth outlook and near-term opportunities for external growth with less competition for Street retail with a deal pipeline valued at a few hundred million dollars, the analyst tells investors in a research note. The firm sees upside to 2024 guidance from recovering Street retail assets including lagging markets like Chicago.
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