Evercore ISI lowered the firm’s price target on Brandywine Realty to $5 from $6 and keeps an In Line rating on the shares. As part of the firm’s Q3 office REITs preview, the analyst “slightly increased” estimates for FY23 and continues to “selectively recommend a few office REITs.” However, even though the firm is hearing about some green shoots in a few markets like Sand Francisco and New York, the firm needs to see better leasing activity in order to believe the Q3 rally is sustainable, the analyst added.
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Read More on BDN:
- Brandywine Realty falls -10.7%
- Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms Third Quarter 2023 Earnings Release and Conference Call
- KeyBanc starts Brandywine Realty at Overweight, sees robust pipeline
- Brandywine Realty initiated with an Overweight at KeyBanc
- Brandywine Realty Trust Announces Capital Transactions Totaling $103.3 million and signs First Commercial Lease at 3025 JFK Blvd in Schuylkill Yards
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