In a report released today, Ki Bin Kim from Truist Financial maintained a Buy rating on Agree Realty (ADC – Research Report), with a price target of $77.00.
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Ki Bin Kim’s rating is based on Agree Realty’s strategic financial maneuvers and stable growth projections. The decision to maintain a Buy rating reflects the company’s consistent acquisition strategy, which includes significant investments in real estate acquisitions expected to yield favorable cash cap rates.
Additionally, Agree Realty’s approach to equity issuance and term loans is anticipated to support its expansion plans effectively. The analysis incorporates a discounted cash flow valuation, and the maintenance of a price target at $77 underscores confidence in the company’s financial health and future performance, even with slight adjustments in AFFO estimates.
In another report released on January 28, RBC Capital also assigned a Buy rating to the stock with a $79.00 price target.