Jefferies Starts Kite Realty Group (KRG) at Buy
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Jefferies analyst Linda Tsai initiates coverage on Kite Realty Group (NYSE: KRG) with a Buy rating and a price target of $26.00.
The analyst commented, "KRG's acquisition of RPAI more than doubles its property count, increasing scale & exposure to high-growth markets. Immediate cost synergies, organic lease-up opportunity, improved tenant/geographical concentrations and the ability to fund external growth accretively without raising leverage gives Kite multiple levers to grow. Discounted valuation and strong earnings growth offer a compelling entry point at current levels."
Shares of Kite Realty Group closed at $21.22 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesJefferies & Co, Earnings, Definitive Agreement
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