BMO comments BMO Nesbitt Burns analyst Joanne Chen increased her Minto Apartment Real Estate Investment Trust (MI.UN-T) target to $28 from $24.50, keeping an “outperform” rating. The average is $27.
“Our constructive outlook on Minto Apartment REIT was reaffirmed following Q2/21 earnings. Although some pressures on organic growth remain, we believe the momentum has clearly shifted in the positive direction on the leasing front,” she said.
“We believe the quality of Minto’s portfolio in Canada’s largest urban markets will continue to attract a good proportion of the strong immigration growth that is expected (recent data suggests Canada remains on track to meet its ambitious 2021 immigration targets).”