First Capital Real Estate Investment Trust T.FCR.UN

BMO Raise Target

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Following its Investor Day event, BMO’s Michael Markidis raised his First Capital REIT  target by $1 to $18.50 with an “outperform” rating. The average is $18.08.

“We came away from the event with: (1) a greater appreciation for FCR’s culture and enterprise-wide use of technology to drive operational efficiency; and (2) a better understanding of the underlying value of its non-core assets,” he said. “The strategic roadmap that was laid out emphasizes management’s commitment to further improve FCR’s leverage profile and gives us the confidence to extend our forecast out to 2026.”