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Broadstone Net Lease upgraded to Buy from Sell at Goldman Sachs

Goldman Sachs analyst Caitlin Burrows double upgraded Broadstone Net Lease (BNL) to Buy from Sell with a price target of $21, up from $14. The company successfully disposed of its healthcare portfolio, which provides confidence in management, the analyst tells investors in a research note. Further, the firm believes Broadstone’s build to suit development pipeline provides earnings growth visibility, which should improve its cost of equity.

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