BofA/Merrill Lynch Upgrades National Retail Properties (NNN) to Buy

BofA/Merrill Lynch upgraded National Retail Properties (NYSE: NNN) from Neutral to Buy with a price target of $41.00 (from $38.50) citing cautious optimism on deal growth.

Analyst Juan Sanabria likes the company's: strong management team, smaller asset base ($7B EV) vs. peers off of which to grow via acquisitions, attractive cost of capital, focus on relationship deals, as well as its defensive balance sheet (33% debt + preferred / total capitalization).

For an analyst ratings summary and ratings history on National Retail Properties click here. For more ratings news on National Retail Properties click here.

Shares of National Retail Properties closed at $37.79 yesterday.

You May Also Be Interested In

• Stifel Upgrades Barry Callebaut AG (BARN:SW) (BYCBF) to Buy
• Argus Upgrades Goldman Sachs (GS) to Buy
• Baird Upgrades Crown Holdings (CCK) to Outperform, 'an unsustainable valuation spread'