Easterly Government Properties upgraded to Buy from Hold at Jefferies

Jefferies upgraded Easterly Government Properties to Buy from Hold with a price target of $15, up from $13. While the company’s last two years have been challenged by a lack of earnings growth, cost of capital constraints are easing and external growth headwinds reversing, which could bring renewed investor interest and multiple expansion, the analyst tells investors in a research note. The firm thinks Easterly’s risk/reward skews attractive and that the company can “grow into the dividend.”