TD Securities raised its price target on Primaris REIT (PMZ-UN.TO) to $24 from $22 on Tuesday.
Analyst Sam Damiani maintained a Buy rating on shares of the Canadian enclosed shopping centre-focused REIT.
"PMZ's leasing update provided clear visibility on peer-leading, mid-single-digit [same property net operating income] growth through at least 2028, which should see further confirmation when management next updates its outlook," Damiani said in a note to clients.
"Together with new excess land monetization plans, this supports the recent recovery in relative valuation and maintains PMZ as one of our preferred names among Retail REITs," the analyst said.
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