Wolfe Research analyst Andrew Rosivach upgraded Broadstone Net Lease (BNL) to Outperform from Peer Perform with a $19 price target implying 27% total return including dividends. The company’s “middling growth” relative to peers comes with a “deeply discounted” multiple, the analyst tells investors in a research note. Wolfe sees any low cap rate asset sales as a positive catalyst for the shares.
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