Agree Realty upgraded to Buy from Neutral at Mizuho

Mizuho analyst Haendel St. Juste upgraded Agree Realty to Buy from Neutral with an unchanged price target of $70. The firm believes the recent underperformance to peers offers “an attractive entry point” for investors looking to add exposure to a REIT with “high investment-grade tenancy, formidable liquidity, and above-average growth potential.” The firm believes Agree, with its ability to play “both sides of the ball,” can be a net winner in a weaker macro and higher capital-cost environment, the analyst tells investors.