Four Corners upgraded to Outperform from Market Perform at Citizens

Citizens analyst Mitch Germain upgraded Four Corners Property Trust (FCPT) to Outperform from Market Perform with a $28 price target After meeting with management, the firm believes the current share price offers a compelling entry point. The meetings validated that Four Corners’ portfolio is “healthy with strong underlying performance” from its core restaurant tenants, the analyst tells investors in a research note. Citizens believes some recent tenant concerns around Bahama Breeze and Red Lobster appear overdone. It says Four Corners’ deal pipeline is “robust with activity expected to ramp.”