Evercore ISI upgraded Alexandria Real Estate (ARE) to Outperform from In Line with a price target of $104, up from $91. With new supply on the decline and the biotech index on the rise, the firm expects capital raising to improve for a portion of Alexandria’s tenant base, the analyst tells investors in a broader REIT note in which the analyst also rolled forward models to incorporate the firm’s 2027 AFFO estimates into its price target framework.
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