BofA lowered the firm’s price target on Phillips Edison (PECO) to $42 from $44 and keeps a Buy rating on the shares. Noting that Q1 Core FFO per share of $2.34 beat the Street and BofA forecast by 2c, the firm lowered its FY25 and FY26 estimates by 1c and 2c, respectively, based on slightly lower occupancy.
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