Wells Fargo downgraded Retail Opportunity to Equal Weight from Overweight with a price target of $15, up from $14. The company had the lowest estimated occupancy upside per the firm’s analysis but a relatively high demand share within its markets, the analyst tells investors in a research note. Wells expects Retail Opportunity’s share price performance to be in line with peers due to moderating funds from operations growth in 2024 over 2023 and an overhang from a potential Rite-Aid bankruptcy.
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Read More on ROIC:
- Retail Opportunity Investments Corp. Prices Offering of Senior Unsecured Notes
- Retail Opportunity Investments Corp. Schedules Third Quarter Earnings Release and Conference Call
- Retail Opportunity upgraded to Outperform from Market Perform at Raymond James
- Retail Opportunity reports Q2 EPS 27c, consensus 26c
- Retail Opportunity Investments Corp. Reports 2023 Second Quarter Results
