UPDATE: Morgan Keegan Upgrades National Retail Properties to Outperform
Morgan Keegan has upgraded National Retail Properties (NYSE: NNN) from Market Perform to Outperform and has raised the price target from $26 to $30 in a research report out today.
In the report, Morgan Keegan writes, "We are upgrading NNN shares from a Market Perform to an Outperform rating. While the portfolio offers defensive characteristics, the shares have underperformed recently, and the near-term growth opportunities remain solid. Our revised Price Target is $30.00 per share, which represents 17.6x our 2012 FAD estimate and a 6.5% forward implied cap rate."
Shares of National Retail Properties are trading at $26.68, down 0.45% from yesterday's close.
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