RBC Capital raised the firm’s price target on First Industrial Realty to $60 from $57 and keeps an Outperform rating on the shares after its Q2 FFO beat. The key to this story is the company’s ability to lease-up its completed and in-process development projects, and the company’s management made solid progress this quarter, the analyst tells investors in a research note. This activity supports a stronger near-term earnings outlook and de-risks the 2024 guidance target, the firm added.
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