Brixmor price target raised to $24 from $21 at Mizuho
The Fly

Brixmor price target raised to $24 from $21 at Mizuho

Mizuho analyst Haendel St. Juste raised the firm’s price target on Brixmor to $24 from $21 and keeps a Buy rating on the shares. Heading into the Q2 earnings for the strip real estate investment trusts, the analyst believes the Bed Bath & Beyond bankruptcy and the health of the consumer remain top of mind for investors and management teams. On the former, the firm suspects that the total bad debt impact baked into initial fiscal 2023 guidance ranges was conservative, and it wouldn’t be surprised to see companies reduce their bad debt forecast for the second half of 2023. On the latter, Mizuho continues to monitor for “cracks” in small-shop performance and the consumer. “While the probability of a deep recession appears relatively low, the landscape ahead isn’t without risk,” the firm writes.

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