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Phillips Edison upgraded to Outperform from Peer Perform at Wolfe Research
The Fly

Phillips Edison upgraded to Outperform from Peer Perform at Wolfe Research

Wolfe Research upgraded Phillips Edison (PECO) to Outperform from Peer Perform with a $44 price target The firm sees continued health in retail given supply-demand imbalances, particularly in the grocery anchored space, and noted that earnings-organic growth is being supported by real estate fundamentals. The valuation-multiple growth for the stock is also attractive relative to the firm’s retail and overall ex-CRE services/lodging coverage averages, the analyst tells investors in a research note.

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