Truist raised the firm’s price target on Equity Residential (EQR) to $77 from $73 and keeps a Buy rating on the shares. The firm is positive on the company’s excellent balance sheet, cash flow generation and risk profile, the analyst tells investors in a research note. Relative to its peers, the stock is also a little cheaper than AvalonBay (AVB) and a little better positioned/less risky than Elme (ELME) – REITs that are more attractive than other Hold-rated stocks in the firm’s apartment coverage, Truist added.
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Read More on EQR:
- Equity Residential price target raised to $74 from $70 at Evercore ISI
- Equity Residential price target raised to $77 from $73 at Scotiabank
- Equity Residential downgraded to Equal Weight from Overweight at Wells Fargo
- MAA upgraded to Buy from Underperform at BofA
- Equity Residential price target raised to $73 from $72 at Scotiabank
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