BofA analyst Jeffrey Spector downgraded Kimco Realty to Neutral from Buy with a price target of $20, down from $24. The firm removed Kimco from the analyst’s Top Pick list, and while BofA walked away from its annual NYC Retail REIT Executive Summit last week with incremental new positives from several retail REITs, “we can’t say the same” for Kimco, which was disappointing, the analyst tells investors in a research note.
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