- RBC Capital analyst Jimmy Shan has reduced the Canadian Apartment Properties REIT CAR CDPYF price target to C$66 from C$69.
- The analyst maintained the Outperform rating on the shares.
- Shan remarked that 1Q22 reflected a difficult winter but an increasing revenue forecast, which the second half should better reflect. Given the current valuation, NCIB is being considered with asset sales, the analyst noted.
- According to the analyst, the valuation is tricky—a glass-half-full investor considers the inflationary impact on replacement costs and rents, while a glass-half-empty investor considers the negative/thin investment spread impact on cap rates.
- Price Action: CAR.UN shares are trading higher by 0.27% at C$47.84 on TSX on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
