Baird initiated Vereit with an Outperform and $9 price target.
As reported previously, Baird analyst RJ Milligan downgraded Vereit to Neutral from Outperform. The analyst said the shares have closed the NAV valuation gap and he would rather move to the sidelines until there is more clarity on the conclusion of the class-action lawsuit. Milligan maintained his $9 price target on Vereit shares.