UPDATE: Goldman Sachs Upgrades First Industrial Realty Trust (FR) to Neutral
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Goldman Sachs analyst Caitlin Burrows upgraded First Industrial Realty Trust (NYSE: FR) from Sell to Neutral with a price target of $46.00 (from $44.00).
The analyst comments "We expect FR’s earnings will continue to benefit from strong demand (particularly from e-commerce growth), leading to continued pricing power and a re-acceleration in its development pipeline (following the COVID-induced pullback). We note that FR’s share price underperformance over the past 6 months, coupled with positive estimate revisions (+2.6% since 9/29/20 versus -2.0% for REITs overall, simple average), now provides the stock with a more attractive valuation relative to REITs overall."
Shares of First Industrial Realty Trust closed at $45.67 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesGoldman Sachs, Earnings
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