Brixmor price target lowered to $27 from $28 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Brixmor to $27 from $28 and keeps a Buy rating on the shares. The decrease in target multiple reflects the decrease in the firm’s FY25 AFFO estimates and the impact on growth rates and the corresponding merited multiple, the analyst tells investors in a research note. Deterioration in the open air retail environment with more retailer bankruptcies and lower demand for space, causing slower than expected mprovements to occupancy and lower leasing spreads, are among the risks for Brixmor, the firm added.