Kimco Realty resumed with a Buy at Goldman Sachs

Goldman Sachs analyst Caitlin Burrows resumed coverage of Kimco Realty (KIM) with a Buy rating and $25 price target. Kimco’s leasing spreads are lower than peers and the firm expects lower leasing spreads versus peers could continue. Goldman forecast Kimco’s average annual FFOPS growth over 2023-2025 to equal 2.2%, in line with its Retail REIT coverage average. However, it expects accretive redeployment of Kimco’s Albertsons (ACI) monetization proceeds, Goldman added.