Phillips Edison price target lowered to $37 from $38 at Mizuho

Mizuho lowered the firm’s price target on Phillips Edison (PECO) to $37 from $38 and keeps an Outperform rating on the shares. The firm says shopping center real estate investment trust portfolios are positioned “well-enough” from a tenant credit-reserve perspective to raise initial fiscal 2025 guidance. It expects improved occupancy and signed not occupied tailwinds to drive improved growth into the second half of 2025.