Janney Montgomery has cut Agree Realty ADC from Buy to Hold and lowered Agree's price target from $28 to $24.
Janney is worried about a potential bankruptcy filing from Borders Group BGP which is a tenant and some of Agree's retail developments.
However, in the past three years, Agree Realty has taken great strides to diversify its retail tenant base.
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Posted In: Analyst ColorDowngradesAnalyst RatingsConsumer DiscretionaryFinancialsRetail REIT'sSpecialty Stores
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