Evercore ISI raised the firm’s price target on Alexandria Real Estate to $115 from $114 and keeps an Outperform rating on the shares. The firm is rolling forward its valuation framework in its real estate coverage to capture an additional year of earnings growth, rolling forward its AFFO estimates from 2024 to 2025 and adjusting its price targets accordingly.
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Read More on ARE:
- Alexandria Real Estate lowers FY23 FFO view to $7.29-$7.31 from $7.95-$8.01
- Alexandria Real Estate Equities, Inc. Reports: 3Q23 and YTD 3Q23 Net Income per Share – Diluted of $0.13 and $1.08, respectively; and 3Q23 and YTD 3Q23 FFO per Share – Diluted, As Adjusted, of $2.26 and $6.69, respectively
- Alexandria Real Estate reports Q3 adjusted FFO $2.26, consensus $2.24
- Alexandria Real Estate options imply 3.3% move in share price post-earnings
- Options Volatility and Implied Earnings Moves Today, October 23, 2023