Wells Fargo lowered the firm’s price target on Agree Realty (ADC) to $79 from $80 and keeps an Overweight rating on the shares. The firm notes 40 REITs it covers reported this week with 24 beats, 3 misses and 13 meets. 27 bumped 2024 guidance, 2 cut, 9 maintained. On average, reporting companies underperformed REITs by -50 bps the day they reported and -140 bps through Friday midday, Wells adds.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADC:
- Agree Realty price target raised to $80 from $77 at Truist
- Agree Realty price target raised to $76 from $67 at Baird
- Agree Realty announces $1.25B at-the-market equity distribution agreement
- Agree Realty 4.4M share Spot Secondary priced at $74.00
- Agree Realty 4M share Spot Secondary; price range $73.30-$74.50