BofA/Merrill Lynch Upgrades CoreSite Realty (COR) to Buy

BofA/Merrill Lynch upgraded CoreSite Realty (NYSE: COR) from Neutral to Buy with a price target of $48.00 (from $40.00).

Analyst Stephen Douglas noted that despite the stock outperformance YTD, upside remains given: 1) conservative ’15 Street estimates, 2) an attractive valuation relative to the broader REIT sector, and 3) the company’s strategic value in a sector where we expect M&A activity to remain an ongoing theme.

For an analyst ratings summary and ratings history on CoreSite Realty click here. For more ratings news on CoreSite Realty click here.

Shares of CoreSite Realty closed at $42.68 yesterday.

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