COPT Defense Properties price target raised to $31 from $27 at Truist

Truist analyst Michael Lewis raised the firm’s price target on COPT Defense Properties to $31 from $27 but keeps a Hold rating on the shares. The company has consistently posted positive earnings growth supported by high tenant renewal rates and self-funded development activity, the analyst tells investors in a research note. There are other office REIT stocks with higher upside if/when the Fed cuts short-term interest rates, though CDP also stands to benefit if Trump wins the presidential election and moves U.S. Space Command to Huntsville, the firm added.