Inmobiliaria Vesta price target lowered to $38 from $43.10 at BofA

BofA analyst Carlos Peyrelongue lowered the firm’s price target on Inmobiliaria Vesta to $38 from $43.10 and keeps a Buy rating on the shares after having updated macro assumptions in its Vesta earnings model and revised its estimates. The firm says its positive view on Vesta is supported by nearshoring tailwinds and driven by automatic annual rent adjustments, high-single-digit positive lease spreads on renewals, historical high occupancy levels and a growing development pipeline at accretive cap rates.