Agree Realty price target raised to $66 from $64 at Wells Fargo

Wells Fargo analyst Connor Siversky raised the firm’s price target on Agree Realty to $66 from $64 and keeps an Overweight rating on the shares following the company’s business update. Agree Realty’s acquisition engine is on given improved cost of capital and higher cap rates, and Wells believes Agree can achieve a positive spread without moving up the risk curve, the analyst tells investors in a research note.