TSX:NXR.UN - Post by User
Post by
retiredcfon Dec 09, 2022 8:02am
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Post# 35161155
Minor Target Revisions
Minor Target Revisions RBC’s Jimmy Shan trimmed his Nexus Industrial REIT target to $11.50 from $11.75, below the $12.50 average, with a “sector perform” rating, while Raymond James’ Brad Sturges lowered his target to $13 from $13.25, keeping a “strong buy” rating.
“We have lowered our NAV/unit, FFO/unit and AFFO/unit estimates to reflect Nexus’ planned and completed financing and acquisition activities,” Mr. Sturges said. “Heading into 2023, we anticipate that Nexus can benefit from incremental investment fund flow from those investors seeking to replace their respective pure-play Canadian industrial real estate exposure once the Summit Industrial Income REIT (Summit) privatization / M&A transaction closes in 1Q23 (subject to unitholder approval).”