Stifel bumps Nvidia stock target, sees attractive valuation
On Monday, RBC Capital analysts downgraded InterRent REIT (TSX:IIP_u) stock (IIP-U:CN) from Outperform to Sector Perform. The analysts also adjusted the price target to Cdn$13.55 from Cdn$14.50.
The decision reflects a belief that investors see a low chance of a significantly better offer for the company, though a slightly improved offer remains possible. RBC Capital’s assessment suggests this outlook is reasonable given the current market conditions.
InterRent REIT, a Canadian real estate investment trust, has been under scrutiny amid market speculation about potential offers. The analysts noted that the recent developments might have established a valuation floor for similar Canadian-focused apartment stocks.
Despite the re-rating of these stocks, they continue to trade at an average 19% discount to their net asset value, according to RBC Capital. The firm’s revised outlook indicates a cautious stance on the potential for further stock appreciation in the near term.
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