Evercore ISI lowered the firm’s price target on Alexandria Real Estate (ARE) to $119 from $121 and keeps an In Line rating on the shares ahead of the company hosting its annual investor day on December 4. Heading into investor day, Evercore believes FY25 consensus estimates are too high and will likely come in below FY24 results as some headwinds persist, noting that its own estimates are 2% below consensus in FY25 and 3% below the Street in FY26.
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Read More on ARE:
- Alexandria Real Estate downgraded to Neutral from Overweight at JPMorgan
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- Alexandria Real Estate downgraded to Hold from Buy at Deutsche Bank
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