Global Medical REIT upgraded to Outperform from Market Perform at Citizens JMP

Citizens JMP upgraded Global Medical REIT (GMRE) to Outperform from Market Perform with a $40 price target The company is in the early stages of a “positive transformation,” the analyst tells investors in a research note. Global Medical over the past six months has announced changes to its leadership and capital structure, which foreshadows a larger organizational shift to functionally rebrand the company and enhance its institutional investment profile, the analyst tells investors in a research note. Citizens believes shareholders “should win” with either higher earnings or a superior multiple through scale.