Cantor Fitzgerald has upgraded shares from a Sell rating to a Hold, citing attractive industrial real estate fundamentals in the company's top markets outside of Houston.
Analysts remain cautious regarding the company's Houston exposure, which is 18 percent of the company, as that market continues to underperform.
Cantor analysts also were seeing positive producing yields compared with market cap rates, high occupancy and positive rent growth as key catalysts for the upgrade.
Cantor Fitzgerald also raised its price target on the company from $63.00 to $71.00.
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