Vicinity Centres (OTCMKTS:CNRAF) Upgraded by Morgan Stanley to “Equal Weight”

Morgan Stanley upgraded shares of Vicinity Centres (OTCMKTS:CNRAF – Get Rating) from an underweight rating to an equal weight rating in a report published on Wednesday morning, The Fly reports.

Separately, JPMorgan Chase & Co. cut Vicinity Centres from a neutral rating to an underweight rating and set a $2.00 price target on the stock. in a research report on Wednesday, November 16th.

Vicinity Centres Stock Performance

CNRAF opened at $1.31 on Wednesday. Vicinity Centres has a 1 year low of $1.10 and a 1 year high of $1.45. The stock’s 50 day simple moving average is $1.29 and its 200-day simple moving average is $1.29.

Vicinity Centres Company Profile

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Vicinity Centres (Vicinity or the Group) is one of Australia's leading retail property groups. With a fully integrated asset management platform, and $24 billion in retail assets under management across 63 shopping centres, it is the second largest listed manager of Australian retail property. Vicinity has a Direct Portfolio with interests in 60 shopping centres (including the DFO Brisbane business) and manages 31 assets on behalf of Strategic Partners, 28 of which are co-owned by the Group.