Scotiabank sees ‘attractive risk-reward,’ upgrades Netstreit to Outperform

As previously reported, Scotiabank upgraded Netstreit (NTST) to Outperform from Sector Perform with a price target of $18, up from $16. The firm believes the stock offers an “attractive risk-reward profile” with above-average multi-year AFFOPS earnings growth at an attractive valuation relative to the Net Lease REIT peer group. The firm estimates a two-year AFFOPS compound annual growth rate of 4.5% in 2024-2026, which compares to a 4.2% group weighted average, the analyst tells investors.