Morgan Stanley analyst Ronald Kamdem upgraded Curbline Properties (CURB) to Overweight from Equal Weight with an unchanged price target of $27. The firm expects “continued bifurcation” in retail real estate investment trusts with experiences, value, and convenience “determining the haves and have nots.” Curbline offers a “rare” double digit funds from operations growth story in retail and convenience, the analyst tells investors in a research note. Morgan Stanley’s analysis of valuation versus growth suggests the convenience space is most undervalued.
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