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Mizuho Securities Upgrades Essex Property Trust (ESS) to Buy

February 8, 2016 7:54 AM EST
Get Alerts ESS Hot Sheet
Price: $244.81 +1.41%

Rating Summary:
    10 Buy, 23 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Mizuho Securities upgraded Essex Property Trust (NYSE: ESS) from Neutral to Buy with a price target of $234.00.

Analyst Richard Anderson commented, "After considering all of these inputs, and then layering on valuation considerations, we are raising ESS to Buy from Neutral, and maintaining our Buy ratings on MAA and UDR. All of the details to our changes are provided in Exhibit 1. As for the technology issue, the bottom line is there are arguments on both sides of the debate on whether tech will crater or gradually decline. But a change is inevitable one way or another, and the question is if markets have over- or under-corrected. We will address this question on a stock-by-stock basis, and conclude in the case of ESS that there is more upside opportunity than downside risk from this point forward."

For an analyst ratings summary and ratings history on Essex Property Trust click here. For more ratings news on Essex Property Trust click here.

Shares of Essex Property Trust closed at $202.50 yesterday.



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