Kimco (KIM) PT Raised to $26 at Baird

Baird analyst Wesley Golladay raised the price target on Kimco (NYSE: KIM) to $26.00 (from $23.00) while maintaining a Outperform rating.

The analyst commented: "KIM is well positioned to drive internal and external growth. The operating environment remains favorable with solid leasing volume, high tenant retention, and limited impact from bankruptcies pushing occupancy to record levels. The improved operating environment is leading to firmer pricing power with KIM also benefitting from improved leasing at the RPT assets. On the external front, acquisition activity accelerated with the company finding opportunities to acquire larger more complex assets. We are bullish on shopping centers and view KIM as a good way to gain exposure to the sector."

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