Equity Residential Fares Well In Peak Leasing Season, Earns Upgrade From Analyst
Portfolio Pulse from Lekha Gupta
BMO Capital Markets analyst John P. Kim upgraded Equity Residential (NYSE:EQR) to Market Perform from Underperform, with a $64 target price. The new rating reflects resilient U.S. employment data amid peak leasing season. EQR raised its 2023 guidance, and Kim raised estimates for revenues and FFO per share.
June 05, 2023 | 6:19 pm
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Equity Residential (EQR) upgraded to Market Perform by BMO Capital Markets analyst John P. Kim, with a $64 target price. The upgrade is based on resilient U.S. employment data and strong leasing season.
The upgrade of Equity Residential (EQR) by BMO Capital Markets analyst John P. Kim is based on resilient U.S. employment data amid peak leasing season. EQR raised its 2023 guidance, and Kim raised estimates for revenues and FFO per share. This positive outlook is likely to have a short-term positive impact on EQR's stock price.
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