The article provides an update on analyst ratings for Phillips Edison (NASDAQ:PECO) over the past 3 months. The average 12-month price target has been revised to $34.5, which is a 5.48% decrease from the previous average of $36.50. This information is relevant and important for investors in PECO, as it reflects the analysts' updated expectations for the stock. However, the short-term impact on the stock price is neutral, as the change in price target is not significant enough to cause a strong price movement.