Maintaining a Hold: Solid Q1 Beat but Limited Upside in a Fully Valued, Necessity-Based Retail REIT
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BMO Capital's Juan C. Sanabria maintains a Hold rating on Phillips Edison & Company with a price target of $41.00. The decision follows a solid Q1 performance, with core FFO exceeding estimates, but only modest upward guidance revisions. While necessity-based retail supports earnings, the current valuation reflects the competitive environment, leading to a neutral stance.
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