Urban Edge upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded Urban Edge to Equal Weight from Underweight with a price target of $18, up from $14. The company now has the highest expected organic growth in the sector driven by the highest percentage of signed leases not commenced, the analyst tells investors in a research note. Despite above average leverage vs. peers, the company’s debt is at the asset level with limited $225M near term maturities through 2025, Morgan Stanley says.