Truist raised the firm’s price target on Piedmont Office Realty to $11 from $10 and keeps a Buy rating on the shares. The firm notes a likely more favorable outlook in terms of office fundamentals and interest rates, adding that while the stock is up 20% year-to-date relative to 2% for Vanguard Real Estate Index Fund ETF (VNQ), it is still “significantly undervalued”, the analyst tells investors in a research note.
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