TSX:IIP.UN - Post Discussion
Post by
retiredcf on Nov 05, 2024 8:51am
Canaccord
Touting an “attractive” valuation, Canaccord Genuity analyst Mark Rothschild upgraded InterRent REIT to “buy” from “hold” previously.
“The unit price has been under pressure and has declined 12 per cent since the REIT reported Q2/24 results in August 2024,” he said. “Though fundamentals are likely to be less robust over the next year, particularly as the rate of immigration declines, the REIT should continue to achieve healthy organic growth and the long-term fundamental outlook for affordable rental apartment properties is healthy, in our view. Reflecting a more attractive valuation, we are upgrading InterRent.”
His target fell by $1 to $13. The average is $14.75.
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