As previously reported, Scotiabank upgraded Brixmor to Outperform from Sector Perform with a price target of $25, up from $23. The firm is “increasingly bullish” on Brixmor as the macroeconomic environment shifts towards “some version of a softer landing,” as it believes the company’s 2024 earnings growth and portfolio quality “remain underappreciated by the market.” Brixmor will continue to close the valuation gap versus higher multiple peers given superior FFOPS earnings growth and similar cash flow risk, the analyst contends.
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>>
See today’s best-performing stocks on TipRanks >>
Read More on BRX:
- Brixmor upgraded to Outperform from Sector Perform at Scotiabank
- Chevron upgraded, SolarEdge downgraded: Wall Street’s top analyst calls
- Brixmor upgraded to Buy from Neutral at Goldman Sachs
- Brixmor narrows FY23 NAREIT FFO view to $1.99-$2.04 from $1.97-$2.04
- Brixmor reports Q2 NAREIT FFO 52c, consensus 50c