JPMorgan raised the firm’s price target on Realty Income to $67 from $60 and keeps a Neutral rating on the shares. The firm thinks that overall, the story is on track to deliver earnings this year that are in line with its marginally above-Street/guidance midpoint estimates. Specifically, JPMorgan’s 2024 AFFO/share estimate remains unchanged at $4.20. Bigger picture, the firm believes the backdrop of lower capital costs, transaction volume recovering, and credit performing largely as expected are helping Realty Income to drive solid earnings growth next year.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on O:
- Realty Income Announces Full Redemption of its Series A Preferred Stock
- Realty Income price target raised to $70.25 from $67.50 at Stifel
- Realty Income price target raised to $61 from $56 at Scotiabank
- Realty Income initiated with a Neutral at Wedbush
- Realty Income Announces 650th Consecutive Common Stock Monthly Dividend and Declares Preferred Stock Quarterly Dividend