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Fly News Breaks for December 18, 2019
Dec 18, 2019 | 06:19 EDT
RBC Capital analyst Michael Carroll downgraded Alexandria Real Estate to Outperform from Top Pick but raised his price target to $165, up from $155. The analyst believes that the REIT remains well positioned to deliver healthy organic and external growth, producing mid-to-high single digit earnings growth in 2020 and 2021. Carroll adds that Alexandria's expected $2B of new development and redevelopment projects through next year position it for incremental AFFO growth of about 550bps.
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