Deutsche Bank analyst Omotayo Okusanya lowered the firm’s price target on Alexandria Real Estate (ARE) to $45 from $83 and keeps a Hold rating on the shares. The firm reduced estimates following the company’s investor day. Alexandria’s outlook “has materially worsened” as the full impact of the weak biotech real-estate demand/supply fundamentals makes its way through the company’s earnings outlook, the analyst tells investors in a research note.
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