Plymouth Industrial upgraded to Outperform from Market Perform at JMP Securities

JMP Securities upgraded Plymouth Industrial REIT to Outperform from Market Perform with a $27 price target. The analyst now views the company’s balance sheet in a positive light, positioning Plymouth “to get more aggressive on the deployment front.” Management has a solid track record for buying assets well below replacement cost and reshoring trends continue to gain momentum, the analyst tells investors in a research note. JMP views Plymouth’s markets, with a skew toward the Midwest and the south, as prime beneficiaries, which supports the potential for continued healthy portfolio operating trends.