Stag Industrial price target raised to $38 from $36 at Raymond James

Raymond James raised the firm’s price target on Stag Industrial (STAG) to $38 from $36 and keeps an Outperform rating on the shares. Leasing activity to start the year was better than expected with record or near-record levels driven by increased space needs ahead of anticipated tariffs, somewhat of a “pull-forward” of demand, the analyst tells investors in a research note. The mark-to-market opportunity remains attractive, and demand for industrial space remains resilient due to increasing e-commerce penetration and the low cost of rent within supply chains, the firm says.