NNN Reit price target raised to $49 from $42.50 at B. Riley

B. Riley raised the firm’s price target on NNN Reit to $49 from $42.50 and keeps a Neutral rating on the shares. Lower rates would have a meaningfully positive impact on the REIT’s near-term refinancing needs and lower NNN’s cost of capital for future investment activity, but with the REIT meaningfully outperforming broader indexes quarter to date and during recent market volatility, B. Riley sees strong relative positioning to deal with macro uncertainty as largely already reflected in valuation, the analyst tells investors in a research note.