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UPDATE: J.P. Morgan Upgrades First Industrial Realty Trust to Neutral, Reiterates $14 PT

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In a report published Wednesday, J.P. Morgan & Co. upgraded its rating on First Industrial Realty Trust (NYSE: FR) from Underweight to Neutral, and reiterated its $14.00 price target.

J.P. Morgan noted, “While FR still has a fair amount of de-leveraging to be done - which will likely be dilutive to earnings – we rate the shares Neutral as we believe leasing traction is improving, the company could be moving closer towards reinstating a stock dividend, and the stock trades at a significant discount to its peers.”

First Industrial Realty Trust closed on Tuesday at $13.46.

Latest Ratings for FR

DateFirmActionFromTo
May 2014Stifel NicolausDowngradesHoldSell
May 2014Stifel NicolausDowngradesHoldSell
Apr 2014JP MorganMaintainsNeutral

View More Analyst Ratings for FR
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Upgrades Analyst Ratings

 

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