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

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Corporate Events for the Week of Jun. 2nd, 2014
First Industrial Realty Leases in LA & York, PA - Analyst Blog

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.

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

 

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