Stifel Downgrades Essex Property Trust to Hold, Raises Price Target to $250
Portfolio Pulse from richadhand@benzinga.com
Stifel analyst Simon Yarmak has downgraded Essex Property Trust (NYSE:ESS) from Buy to Hold, while raising the price target from $245 to $250.
July 18, 2023 | 8:44 am
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Essex Property Trust has been downgraded from Buy to Hold by Stifel, though the price target has been raised from $245 to $250.
The downgrade from Buy to Hold suggests that the analyst sees limited upside potential in the short term, which could lead to a neutral or slightly negative impact on the stock. However, the increase in price target indicates an expectation of long-term growth, which could offset short-term negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100