Barclays Double Downgrades Safety Income Growth (SAFE) to Underweight
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Barclays analyst Ross Smotrich downgraded Safety Income Growth (NYSE: SAFE) from Overweight to Underweight with a price target of $25.00 (from $23.00).
- Double downgrades following recent appreciation in valuation.
- Believes positives are "more than priced in at current levels."
- Sees unfavorable risk/reward.
- Says there are limited NT catalysts to justify the valuation premium.
Shares of Safety Income Growth closed at $33.55 yesterday.
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