FrontView REIT initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of FrontView REIT (FVR) with an Overweight rating and $21 price target The company’s recent initial public offering provides balance sheet capacity to drive acquisitions and above-average earnings growth, the analyst tells investors in a research note. “If successful, which we think it will be, a re-rating should be in order,” the firm contends. It says the company’s portfolio quality and growth outlook “sit at the top of the peer set, while valuation sits near the bottom.”