Phillips Edison price target lowered to $38 from $41 at Mizuho

Mizuho lowered the firm’s price target on Phillips Edison (PECO) to $38 from $41 and keeps an Outperform rating on the shares. Shopping center real estate investment trusts posted strong Q4 earnings, supported by robust leasing activity, above-trend leasing spreads and occupancy gains, with incremental near-term earnings visibility from signed versus occupied pipelines, the analyst tells investors in a research note. The firm says the fiscal 2025 guidance outlooks generally met expectations. On whole, it believes the sector appears fairly valued on multiples.