UBS analyst Michael Goldsmith initiated coverage of Phillips Edison (PECO) with a Neutral rating and $37 price target The company’s visibility into “solid” mid-single digit funds from operations growth and the favorable retail real estate leasing backdrop is fairly reflected in its valuation at current share levels, the analyst tells investors in a research note. UBS says Phillips Edison’s portfolio of smaller, single-anchor neighborhood centers limits its exposure to tenants at risk of closing stores.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PECO:
- Phillips Edison price target raised to $38 from $36 at Barclays
- Phillips Edison initiated with a Buy at Ladenburg
- Phillips Edison & Company Increases Monthly Dividends
- Phillips Edison increases monthly dividend 5.7% to 10.83c per share
- Phillips Edison price target lowered to $36 from $37 at Barclays