- Raymond James analyst Buck Horne reiterated an Outperform rating on the shares of Farmland Partners Inc FPI and raised the price target to $17 from $15.
- The price target raise comes after the U.S. Department of Agriculture’s (USDA) new 2022 land values and the company’s recent acquisitions.
- The analyst said that U.S. farmers continue to enjoy an extremely strong pricing backdrop this year.
- He added that the war in Ukraine continues to create uncertainty and supply shortages throughout the global grain market.
- Owning one of the largest portfolios of commodity row crop acreage in the U.S., Horne believes the company is poised for a sustained period of accelerating growth and NAV accretion.
- Price Action: FPI shares are trading higher by 1.88% at $14.60 on the last check Wednesday.
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