JPMorgan upgraded Federal Realty (FRT) to Overweight from Neutral with a price target of $125, up from $122. The firm made several rating changes in conjunction with its 2025 real estate investment trust and real estate services outlook. The analyst believes Federal Realty’s external growth, particularly acquisitions, will be a more meaningful driver of stock performance in 2025. JPMorgan likes the stock’s relative valuation more today.
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