Wells Fargo analyst Blaine Heck lowered the firm’s price target on First Industrial Realty (FR) to $57 from $61 and keeps an Equal Weight rating on the shares. The firm notes Q3 is on a good path through Week 2. Wells is most encouraged by Datacenters, Healthcare, Mfg Housing and Retail. However, it notes investor discussions this week focused more on macro: can REITs work if 10-year yield rises from here; playbook for Republican sweep or Harris/gridlock; conservative 2025 guidance disappointment risk; defensive position in Resi over near term, and timing sector bottoms.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FR:
- First Industrial Realty reports Q3 EPS 68c, consensus 67c
- First Industrial Realty raises 2024 FFO view to $2.61-$2.65 from $2.59-$2.63
- First Industrial Realty price target raised to $56 from $52 at Barclays
- First Industrial Realty price target raised to $62 from $58 at Mizuho
- First Industrial Realty price target raised to $61 from $50 at Wells Fargo