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Fly News Breaks for December 10, 2019
WPC
Dec 10, 2019 | 06:12 EDT
Wells Fargo analyst Todd Stender upgraded W.P. Carey to Outperform from Market Perform with an unchanged price target of $92. The analyst supports management's efforts to better streamline the company towards some of the other Net Lease real estate investment trusts "that enjoy premium valuations." Investors ascribe higher multiples to Net Lease REITs that consistently close acquisitions quarter after quarter, Stender tells investors in a research note.
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