Kimco: Solid Fundamentals but Balanced Risk/Reward Keeps Hold Rating, $25 Price Target Unchanged

In a report released yesterday, Caitlin Burrows from Goldman Sachs maintained a Hold rating on Kimco Realty, with a price target of $25.00.

Caitlin Burrows’s rating is based on the view that Kimco’s fundamentals are solid but not compelling enough to justify a more aggressive stance at current levels. The company modestly beat first-quarter FFO expectations and slightly lifted the lower end of its 2026 FFO guidance, supported by strong leasing, improving visibility on rent commencements, and easing bad-debt pressure.

At the same time, her unchanged $25 price target implies only limited upside from the current share price, suggesting that much of the near-term improvement is already reflected in the valuation. While signed-not-opened rents and higher same-store NOI guidance support a healthy growth outlook, the risk/reward profile appears balanced rather than skewed decisively positive, leading her to maintain a Hold recommendation.

In another report released yesterday, Scotiabank also maintained a Hold rating on the stock with a $25.00 price target.