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Kilroy Realty downgraded to Underperform from Neutral at Mizuho

Mizuho analyst Vikram Malhotra downgraded Kilroy Realty (KRC) to Underperform from Neutral with a price target of $29, down from $37. The firm sees further downside despite the stock’s underperformance year-to-date. Kilroy’s estimates will be pressured by known moveouts, the analyst tells investors in a research note. Mizuho believes the market will see greater credit risk potential given the company’s software and nearly 100% West Coast exposure.

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