First Industrial Realty price target raised to $58 from $42 at Wells Fargo

Wells Fargo raised the firm’s price target on First Industrial Realty (FR) to $58 from $42 and keeps an Equal Weight rating on the shares. The firm adjusted price targets in the industrial and cold storage real estate investment trust group as a part of a Q2 preview. It believes conservative initial outlooks and Q1 beats should “insulate” the REITs from negative estimate revisions, but says the length of leasing softness will be key for investors.