Goldman Sachs upgraded First Industrial Realty (FR) to Neutral from Sell with a price target of $59, up from $52, following the Q4 report. First Industrial has recently shown the ability to lease up speculative development projects and resume select new development starts, the analyst tells investors in a research note. The firm believes this is in part because of a “stabilizing-to-improving” industrial market overall and because the company’s new developments are attractive.
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