Wedbush upgrades EastGroup on positive momentum returning

Wedbush upgraded EastGroup Properties to Outperform from Neutral with a price target of $208, up from $162. The analyst thinks several fundamental factors may be shifting in a way to reignite the industrial real estate investment trust thesis, and continued rotation back into the space, at least for the remainder of 2024. EastGroup’s consumption-focused business model should regain positive momentum this year, the analyst tells investors in a research note.