COPT Defense Properties price target raised to $33 from $31 at Wells Fargo

Wells Fargo analyst Blaine Heck raised the firm’s price target on COPT Defense Properties to $33 from $31 and keeps an Overweight rating on the shares after hosting meetings with management. The firm says it continues to favor the “defensive nature” of COPT’s “strong” balance sheet and specialized assets, which lead to a stickier tenant base and high retention. The company’s Sensitive Compartmented Info Facilities and Anti-Terrorism Force Protection properties enjoy high tenant retention due to the costly and complicated nature of building out these facilities, the analyst tells investors in a research note.