Morgan Stanley raised the firm’s price target on NNN REIT (NNN) to $48 from $47. The analyst has “incremental caution” on dollar stores, pet supplies, and off-price retail heading into the Q2 reports for the triple net real estate investment trusts. Morgan Stanley keeps an Overweight rating on the shares, citing significant progress backfilling two large bankruptcies and proactive management may lead to an upside surprise in addressing watch list tenants.
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