BTIG analyst Michael Gorman raised the firm’s price target on Agree Realty (ADC) to $78 from $74 and keeps a Buy rating on the shares. Agree has a well capitalized balance sheet including a recent expansion of its unsettled forward equity after the end of the third quarter, the analyst tells investors in a research note. Management sees an acceleration in deal flow heading into the end of the year, leading to the most active quarter potentially of 2024 and a strong pipeline into 2025, the firm adds.
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