BMOCapital Markets Corp. analyst Heather Kirk increased her investmentopinion of Crombie Real EstateInvestment Trust to "outperform" from "marketperform," and increased her price target to C$16 from C$14.50.

The analyst wrote in a research report: "Crombie providesstable cash flows from a portfolio of primarily defensive grocery-anchoredretail properties coupled with a growing pipeline of urban mixed-usevalue-creation opportunities (430k sf of commercial GLA and 5,300 units ofresidential and ~$1 to $2 billion of built out value). The REIT has beenselling non-core assets which is crystallizing value, improving portfolioquality and providing capital to fund value-add activities and debt reduction."