W.P. Carey price target raised to $66 from $60 at Wells Fargo

Wells Fargo raised the firm’s price target on W.P. Carey to $66 from $60 and keeps an Equal Weight rating on the shares. The firm notes that through the end of Q4 2023 W.P. Carey made progress in its asset sales program and engaged in prudent balance sheet management. The Net Lease REIT enters 2024 with a cleaner story and well-funded investment pipeline through the first time of 2024, Wells says.