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W.P. Carey downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital analyst Brad Heffern downgraded W.P. Carey (WPC) to Sector Perform from Outperform with an unchanged price target of $69. The firm says the stock’s current valuation fully reflects W.P. Carey’s positive attributes. In addition, a “difficult-to-analyze” tenant list, a “lumpy” target transaction market and a need to start issuing equity again remain risks for the stock, the analyst tells investors in a research note.

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