Evercore ISI raised the firm’s price target on Tanger Factory to $29 from $28 and keeps an In Line rating on the shares. While the magnitude of future Fed rate cuts remains open to debate, as does the pace of job growth and the ultimate impact on GDP growth, it is “clear that the interest rate path is one that is more favorable for the CRE space and REITs overall,” contends the analyst while “tweaking” valuation inputs for the firm’s REIT coverage ahead of the upcoming Fed easing cycle.
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Read More on SKT:
- Tanger Factory price target raised to $30 from $28 at Scotiabank
- Tanger Factory Publishes Q2 2024 Operating Results
- Tanger Factory raises 2024 core FFO view to $2.05-$2.12 from $2.03-$2.11
- Tanger Factory reports Q2 core FFO 53c, consensus 52c
- Tanger Reports Second Quarter Results and Raises Full-Year 2024 Guidance
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