Kimco (KIM) PT Raised to $23 at Baird
- Wall Street extends rally as value stocks bounce
- China Tells Local Authorities to Prepare For a 'Possible Storm' and Prevent Unrest as Evergrande Crisis Unravels - WSJ
- Salesforce (CRM) Raises FY22 Revenue Guidance; Initiates FY23 Revenue
- Oil prices rise, hit 2-month highs on supply worries
- IDFA Seen as a 'Real Headwind' for Facebook (FB) but Analysts Remain Positive
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trimble (TRMB) Slips as Morgan Stanley Downgrades to Underweight
- Peyto Exploration & Development Corp. (PEY:CN) (PEYUF) PT Lowered to Cdn$14.75 at Stifel Canada
- Wolfe Research Starts Kimco (KIM) at Peerperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesRobert W Baird, Earnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!