Essex Property Trust price target raised to $370 from $355 at Piper Sandler

Piper Sandler raised the firm’s price target on Essex Property Trust (ESS) to $370 from $355 and keeps an Overweight rating on the shares. The firm sees the pre-election transaction pause giving way to a resumption of decision-making, whether leasing, capital markets, fund-raising, etc. Piper believes the direction of interest rates remains critical.