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BMO Lifts ProREIT Price Target to $7.00 After Solid Q1

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BMO Capital Markets raised its price target on the units of ProREIT (PRV-UN.TO) by $0.50 to $7.00 and maintained its market perform rating, after the company posted "solid" first-quarter earnings.

"There is no change in our constructive stance on PROREIT post a solid Q1 print. We continue to believe the REIT's small/mid-bay industrial focus in secondary markets positions the business well to deliver 5%+ organic growth this year," writes analyst Tom Callaghan.

Significant renewal leasing activity completed over the past two years should also support a strong uptick in NOI and earnings growth into the second half of 2026, Callaghan adds.

"At current levels, we believe these considerations are appropriately reflected in valuation."

Price: $6.74, Change: $+0.02, Percent Change: +0.30%

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