Agree Realty price target raised to $91 from $90 at BofA

BofA raised the firm’s price target on Agree Realty (ADC) to $91 from $90 and keeps a Buy rating on the shares. The company is updating its price targets for triple-net REITs under its coverage following Q4 results, the analyst tells investors. Key points include acquisition activity remained elevated in Q4, most net lease REITs expect to maintain 100-150bp investment spreads, and potential upside to guidance from increased investment activity, the firm says