Kimco Realty price target lowered to $21 from $23 at Wells Fargo

Wells Fargo analyst Cooper Clark lowered the firm’s price target on Kimco Realty (KIM) to $21 from $23 and keeps an Equal Weight rating on the shares. The firm remains positive on Strips into 2026 given defensive mid-single-digit FFO growth for the group with tailwinds from favorable supply and demand dynamics, a robust transaction market and relatively attractive valuation. Wells also sees a positive risk/reward skew on tenant credit and expects muted credit impact on 2026 earnings. Recent consumer spending trends are a concern worth watching, but the defensive nature of the Strips & Wells Fargo’s macro outlook keep the firm positive.