Kimco (KIM) PT Raised to $23 at Baird

August 2, 2021 7:44 AM EDT
Get Alerts KIM Hot Sheet
Price: $21.92 +0.37%

Rating Summary:
    16 Buy, 17 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 13 | New: 52
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Baird analyst Wesley Golladay raised the price target on Kimco (NYSE: KIM) to $23.00 (from $21.00) while maintaining an Outperform rating.

The analyst commented, "We believe KIM is well positioned for multiple years of earnings growth due to the combination of elevated leasing activity, redevelopment, densification and external growth initiatives. Leasing volume is good and the exposure to struggling tenants is shrinking with 96% of 2Q rent collected. With tenant issues abating, the company can look to extract value form the existing portfolio and the WRI portfolio upon completion of the merger. We also look for the company to reduce leverage via organic growth and the monetization of the investment in ACI in 2H22."

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