In the good books
APN INDUSTRIA REIT (ADI) was upgraded to Add from Hold by Morgans
APN Industria has withdrawn FY20 guidance following the release of the code of conduct from the federal government. The company has indicated the potential impact of a requirement to waive a proportion of attendance rent is not possible to determine at the moment. As a result, Morgans lowers forecasts for FY20 and FY21 income by around -2% and -3%, respectively. The balance sheet is considered sound. Following weakness in the security, the broker upgrades to Add from Hold and reduces the target to $2.68 from $3.16.