Mizuho Securities Upgrades Equity Residential (EQR) to Neutral
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Mizuho Securities upgraded Equity Residential (NYSE: EQR) from Underperform to Neutral with a price target of $62.00 (from $60.00).
Analyst Richard Anderson commented, "We downgraded EQR to Underperform in July 2016 after the company reported its third consecutive reduction to its same store outlook for 2016 -- we established a $60 PT at that time. Having now closed in on that target and with the company reiterating its revenue goal for 2016 (it produced a 3.4% same store revenue growth during 3Q16), we are returning our rating to Neutral but applying a PT methodology of a 5% discount to reflect the lingering uncertainty of the situation. Please note our FFO estimates continue to follow EQR's Normalized FFO metric because of the numerous adjustments related to the suburban portfolio sale."
Shares of Equity Residential closed at $60.18 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Cuts Price Target on Comtech Telecom (CMTL) to $16 Following 1Q
- FBR Capital Raises Price Target on TEGNA (TGNA) Following Investor Conference
- Stifel Reiterates Buy on Casella Waste Systems (CWST) - PT to $16
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!