CIBC downgraded Nexus Industrial REIT (EFRTF) to Neutral from Outperformer with a price target of C$7.50, down from C$8.50, after assuming coverage of the name. With its portfolio transformation largely complete, attractive market rents to capture in its leasing, along with new development deliveries, CIBC anticipates more steady earnings growth in the years ahead for Nexus Industrial REIT, the analyst tells investors in a research note.
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