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Fly News Breaks for June 25, 2018
FRT
Jun 25, 2018 | 07:42 EDT
As reported earlier, DA Davidson analyst James Lykins upgraded Federal Realty to Buy from Neutral and raised his price target to $145 from $125. Lykins says the company has long been a "gold standard" name among all REITs and its high valuation was justifiable, adding that his rating change reflects "dramatic" improvement in sentiment toward "everything retail" at the recent industry conferences. The analyst also points to the stronger leasing activity at Federal Realty, which grew last quarter by 22% on a comparable store basis.
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