BofA downgraded W.P. Carey to Underperform from Neutral with a price target of $67, down from $78. Inflation has cooled and forecasts point to further cooling, and, as a result, BofA believes SS growth has peaked, the analyst tells investors in a research note. W.P. Carey also has roughly 15% of debt rolling in 2024 and its leverage is above peers, the firm says.
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