Baird raised the firm’s price target on Agree Realty (ADC) to $76 from $67 and keeps an Outperform rating on the shares. The firm raised their estimates and price target due to the company sourcing over $1B of equity to fund growth. Baird believes the company has sourced sufficient capital to acquire for the next twelve months, which should insulate the company from near-term capital markets volatility and garner an improved valuation.
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