Brixmor Property Group's recent second-quarter earnings beat is only the beginning of potential growth for the shopping center real estate investment trust, according to Goldman Sachs.
The Wall Street bank upgraded BRX to buy from neutral Wednesday, with a $27 per share price target, up from $23.
Brixmor stock has dipped about 2% from the start of the year.
The company reported June quarter funds from operations of 52 cents per share, according to FactSet, while analysts polled had forecast 50 cents.
"While the upside is not new, we believe investors increasingly value the reliability of this source of cash flow growth."
Persons:
Goldman Sachs, Caitlin Burrows, Burrows, — CNBC's Michael Bloom
Locations:
New York