Oct. 27 at 1:06 PM
$FR First Industrial Realty price target lowered to
$57 from
$61 at Wells Fargo
Wells Fargo analyst Blaine Heck lowered the firm's price target on First Industrial Realty to
$57 from
$61 and keeps an Equal Weight rating on the shares. The firm notes Q3 is on a good path through Week 2. Wells is most encouraged by Datacenters, Healthcare, Mfg Housing and Retail. However, it notes investor discussions this week focused more on macro: can REITs work if 10-year yield rises from here; playbook for Republican sweep or Harris/gridlock; conservative 2025 guidance disappointment risk; defensive position in Resi over near term, and timing sector bottoms.