Morgan Stanley raised the firm’s price target on Phillips Edison (PECO) to $37 from $36 and keeps an Equal Weight rating on the shares. Morgan Stanley believes that as the company continues to execute on internal growth and external growth they can trade closer to Regency Centers’ (REG) premium multiple over the medium to long-term, the firm told investors in a research note. Morgan Stanley added that Phillips Edison has a “differentiated” strategy and a “strong” track record.
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