Maintaining a Neutral Stance: Modest FFO Upgrades but Limited Upside Justify Hold Rating on U.S. Retail REIT

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2026.01.05 20:35
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Morgan Stanley analyst Ronald Kamdem has maintained a Hold rating on Phillips Edison & Company with a price target of $37.00. He cites modest improvements in funds from operations for 2025 and 2026, but believes these are insufficient to warrant a more aggressive stance. The stock's current valuation reflects near-term earnings momentum, and while the company's fundamentals are sound, Kamdem sees limited upside compared to risks and alternatives in the sector. He recommends a neutral position while monitoring future growth catalysts.