Baird lowered the firm’s price target on Alexandria Real Estate (ARE) to $130 from $137 and keeps an Outperform rating on the shares. The firm finds the valuation attractive for a unique portfolio and platform. However, they increased the risk rating due to the number of moving parts as the company looks to shed non-core assets to fund the large development pipeline and recapture space to expand mega campuses.
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Read More on ARE:
- Alexandria downgraded to Sector Perform from Outperform at RBC Capital
- Alexandria Real Estate price target lowered to $120 from $130 at Wedbush
- Alexandria narrows FY24 adjusted FFO view to $9.45-$9.49 from $9.41-$9.53
- Alexandria Real Estate reports Q3 adjusted FFO $2.37, consensus $2.38
- Alexandria Real Estate options imply 2.0% move in share price post-earnings