W.P. Carey price target raised to $67 from $64 at Scotiabank

Scotiabank raised the firm’s price target on W.P. Carey (WPC) to $67 from $64 and keeps a Sector Perform rating on the shares. The company continues to build investor trust by executing on its investment and funding plans, the analyst tells investors. While investors remain cautious around the company’s tenant credit quality and limited investment in “household names,” the firm believes lower-than-expected bad debt expense helps to alleviate some of these concerns.