Mizuho Downgrades Equity Residential to Neutral, Lowers Price Target to $58
Portfolio Pulse from Benzinga Newsdesk
Mizuho analyst Haendel St. Juste has downgraded Equity Residential (EQR) from Buy to Neutral and reduced the price target from $62 to $58.
December 11, 2023 | 11:23 am
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NEGATIVE IMPACT
Equity Residential was downgraded by Mizuho from Buy to Neutral, and the price target was cut from $62 to $58.
The downgrade by a prominent analyst like Haendel St. Juste from Mizuho is likely to influence investor sentiment negatively in the short term, leading to potential downward pressure on EQR's stock price. The reduction in the price target further suggests a lower expected valuation for the company, which can also contribute to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100