Piper Sandler last night upgraded Terreno Realty (TRNO) to Overweight from Neutral with a price target of $75, up from $60. Terreno is seeing its bi-coastal portfolio gain traction in the majority of its markets, the analyst tells investors in a research note. Piper says the company’s “enthusiasm” following the Q3 results “stood out.” Terreno sees tenants becoming more engaged, since pulling back with Liberation Day, contends Piper.
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