Cantor Fitzgerald Upgrades Excel Trust (EXL) to Buy

Cantor Fitzgerald upgraded Excel Trust (NYSE: EXL) from to Buy with a price target of $13.50.

The firm comments, "Our target implies a 14.5% total return, inclusive of the dividend, which compares favorably to our current RMZ return expectation of 7.4%. Our price target includes a modest 5.6% premium to our NAV estimate of $12.60, which reflects the strength of the balance sheet and strong acquisition pipeline, offset by limited core growth within the operating portfolio. Oerall, we are confident in Excel's ability to grow the portfolio and enhance returns to investors by way of accretive acquisitions, with the backdrop of a stable operating portfolio."

For an analyst ratings summary and ratings history on Excel Trust click here. For more ratings news on Excel Trust click here.

Shares of Excel Trust closed at $12.36 yesterday.

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