Getty Realty upgraded to Buy at BofA on lower rate environment benefits

BofA analyst Joshua Dennerlein upgraded Getty Realty (GTY) to Buy from Neutral with a price target of $34, up from $31. The firm believes that Getty will benefit from the lower rate environment and will see greater acquisition volumes that will drive earnings growth, adding that it is more positive on Getty given its growth profile and relative value compared to Net lease REIT peers.