As previously reported, Jefferies analyst Peter Abramowitz downgraded Kilroy Realty to Hold from Buy with a price target of $39, down from $48. Despite "historically cheap" valuations following a difficult 2022, the Office REITs group "still hasn’t baked in a worst case scenario," Abramowitz tells investors. For Kilroy, while the portfolio should remain resilient, earnings expectations have caught up to his estimates so he sees less of an opportunity to beat-and-raise throughout 2023, Abramowitz tells investors.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on KRC: