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CIBC World Markets Corp. raises Boardwalk REIT to 'sector performer'

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CIBC World Markets Corp. raises Boardwalk REIT to 'sector performer'

CIBCWorld Markets Corp. analyst Alexander Avery raised his investmentopinion of Boardwalk Real EstateInvestment Trust to "sector performer" from "sector underperformer,"and increased his price target to C$54 from C$50.

Theanalyst wrote in a research report: "Our rating change reflectsexpectations that the devastating fires continuing to rage around Fort McMurraywill drive the displaced population into Edmonton and other population centres.While information is still scarce, it appears likely thousands of homes in FortMcMurray have been destroyed or damaged severely, and the entire population of~90,000 people has been displaced with no visibility into when the evacuationorder may be lifted or when people will be allowed back into their homes."