Scotiabank analyst Greg McGinnis raised the firm’s price target on Kimco Realty (KIM) to $26 from $23 and keeps a Sector Perform rating on the shares. Following a strong Q3 stock performance, the U.S. REIT market has retreated as fears of inflation pushed the 10-year Treasury bond yield higher, the analyst tells investors. The firm believes REITS look historically expensive compared to the real yield in the economy, and Scotiabank remains selective.
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Read More on KIM:
- Kimco Realty price target raised to $26 from $24 at Goldman Sachs
- Kimco Realty price target raised to $27.50 from $26 at Stifel
- Kimco Realty price target raised to $26 from $23 at Baird
- Kimco Realty price target raised to $30 from $25 at UBS
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