As previously reported on Friday, Scotiabank upgraded Realty Income (O) to Outperform from Sector Perform with a price target of $67, up from $60. Recent transactions, including raising $1.7B in its cornerstone private fund and establishing an initial $1.5B GIC partnership which includes entry into new geography, help to alleviate concerns over the company’s size and instead demonstrate the value Realty Income can provide, the analyst told investors.
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