UBS upgraded Agree Realty (ADC) to Buy from Neutral with a price target of $84, up from $79. The firm has increased confidence in Agree Realty’s ability to drive AFFO growth through accelerating acquisitions at a reasonable valuation, the analyst tells investors in a research note. UBS is modeling acquisitions in 2025 of $1.2B, driven by increased visibility into funding through outstanding forward equity, which should fuel AFFO growth of 5% in 2025 and 5.6% in 2026.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADC:
- Agree Realty downgraded to Market Perform from Outperform at JMP Securities
- NNN REIT initiated with an Overweight at Barclays
- Barclays starts Agree Realty at Underweight, calls it ‘bad stock’ for time being
- Agree Realty initiated with an Underweight at Barclays
- Agree Realty initiated with an Outperform at Evercore ISI