TSX:INO.UN - Post by User
Post by
BlueJay2020on Apr 03, 2024 8:55am
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Post# 35967191
Lone analyst cuts target to a buck
Lone analyst cuts target to a buck Desjardins Securities’ Alexander Leon, currently the lone analyst covering Inovalis Real Estate Investment Trust (
), reduced his target to $1 from $1.25 with a “hold” rating.
“INO reported 4Q23 operating results after market close on March 28 which were below our expectations,” he said. “Total portfolio occupancy continues to trend lower, and progress on the asset recycling program was limited; however, management is beginning to execute on the simplification of the corporate structure. Our revised forecast continues to reflect conservative assumptions and excludes any asset sales or capital redeployment—execution provides upside.”