Vicinity Centres upgraded to Hold from Underperform at Jefferies

Jefferies upgraded Vicinity Centres (CNRAF) to Hold from Underperform with a price target of A$2.34, up from A$2.20. Although the firm remains cautious on the consumer outlook, it’s “hard to overlook” Vicinity’s balance sheet and optionality to pursue FFO accretive inorganic growth opportunities, the analyst tells investors.