LXP Industrial Trust price target lowered to $10 from $11 at KeyBanc

KeyBanc lowered the firm’s price target on LXP Industrial Trust (LXP) to $10 from $11 given the more challenging environment and uncertain macro, while keeping an Overweight rating on the shares. The firm notes the company reported relatively in-line Q1 results, and management affirmed its FY25 guidance of 61c-65c/share. The quarter was quiet overall, and the focus remains on the lease up of the company’s three large spec developments that are in service but fully vacant and awaiting tenants, KeyBanc adds.