September 11, 2024
In the world of real estate investment trusts (REITs), Brixmor Property Group (NYSE:BRX) has been making waves with its recent performance. Over the past three months, 12 analysts have weighed in on the company, providing a diverse range of opinions from bullish to bearish. In this article, we will delve into the insights from these analysts, examining their recent ratings and price targets to gain a better understanding of the company's trajectory.
Let's begin with an overview of the recent ratings. In the past 30 days, four analysts have maintained a 'Bullish' stance, while four have expressed a 'Somewhat Bullish' view. No analysts have labeled Brixmor as 'Indifferent' or 'Somewhat Bearish', while none have dared to assign a 'Bearish' rating. Comparing this to the preceding months, we can see that the overall sentiment has shifted towards a more optimistic outlook.
Looking at the average 12-month price targets from these analysts, we see an average target of $28.38. This represents a 10.21% increase from the previous average price target of $25.75. Additionally, the high estimate stands at $33.00, with the low estimate coming in at $25.50. These figures indicate a significant discrepancy in analyst opinions, with some experts expressing much more optimism about the company's future.
Now, let's take a closer look at the individual analysts and their recent evaluations. Floris Van Dijkum of Compass Point has raised the rating to 'Buy' with a price target of $30.00, representing a $2.00 increase from the prior price target. Similarly, Samir Khanal of Evercore ISI Group has raised the rating to 'In-Line' with a price target of $27.00, a $1.00 increase from the previous price target.
Several other analysts have also adjusted their ratings and price targets. Dori Kesten of Wells Fargo has raised the rating to 'Equal-Weight' with a price target of $28.00, while Greg McGinniss of Scotiabank has raised the rating to 'Sector Outperform' with a price target of $29.00. Haendel St. Juste of Mizuho has also raised the rating to 'Neutral' with a price target of $27.00.
Furthermore, Ki Bin Kim of Truist Securities has raised the rating to 'Buy' with a price target of $28.00, representing a $3.00 increase from the prior price target. Todd Thomas of Keybanc has raised the rating to 'Overweight' with a price target of $28.00, a $2.00 increase from the previous price target.
Two notable analysts who have joined the 'Buy' camp are Caitlin Burrows of Goldman Sachs and Floris Van Dijkum of Compass Point, both of whom have price targets above $28.00. Michael Mueller of JP Morgan has raised the rating to 'Overweight' with a price target of $28.00, while Alexander Goldfarb of Piper Sandler has raised the rating to 'Overweight' with a price target of $33.00, the highest among all analysts.
Lastly, Simon Yarmak of Stifel has raised the rating to 'Hold' with a price target of $25.50, representing a $1.50 increase from the prior price target.
These analyst upgrades and price target adjustments indicate that Brixmor Property Group is gaining momentum in the eyes of the financial community. With many analysts expressing optimism about the company's future performance, it will be interesting to see how the stock price responds in the coming weeks and months.
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