Kimco Realty price target raised by $3 at Compass Point, here’s why

Compass Point raised the firm’s price target on Kimco Realty (KIM) to $25 from $22 and keeps a Buy rating on the shares following the approval by RPT Realty (RPT) shareholders to merge with Kimco at the beginning of 2024. The firm, which believes that investors are starting to recognize the logic and accretion of the RPT transaction, notes Kimco had underperformed sector peers meaningfully in the first half of the year, but argues that it stands to benefit from the robust retail operating environment as the largest open air shopping center landlord in the country.