Barclays analyst Richard Hightower upgraded Agree Realty (ADC) to Equal Weight from Underweight with a price target of $75, up from $74. The firm cites the stock’s more attractive valuation and the “incrementally softer” macro outlook for the upgrade. The softening U.S. macro outlook could cause investors increasingly to favor Agree given the superior tenant credit and higher investment grade weighting within its portfolio, the analyst tells investors in a research note. Barclays says the company is not capital markets-dependent to hit its external growth targets in 2025.
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