Alexandria Real Estate price target raised to $174 from $162 at Baird

Baird analyst David Rodgers raised the firm’s price target on Alexandria Real Estate to $174 from $162 and keeps an Outperform rating on the shares. The analyst said the stock price weakness over the past year given slower demand, reduced VC funding and new supply concerns appears to have stabilized with the operating outlook while a pullback in debt costs has likely improved valuations on the margin. These factors are reflected in our outlook, and we expect the stock to continue to react positively.