Truist analyst Michael Lewis raised the firm’s price target on Essential Properties Realty Trust (EPRT) to $37 from $34 and keeps a Buy rating on the shares. The firm is adjusting its model and assuming $1.38B of investments this year, near the upper end of management’s $1.2B-$1.4B guidance range, the analyst tells investors in a research note. Truist also sees a significant amount of forward equity available to the company, allowing it to drive strong earnings growth while keeping financial leverage below 5-x net debt to EBITDA.
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