Cantor Fitzgerald Upgrades Equity Residential (EQR) to Buy; Recent Dip Offers Opportunity

Cantor Fitzgerald upgraded Equity Residential (NYSE: EQR) from Hold to Buy with a price target of $68.50.

Analyst, David Toti, said, "We upgrade shares of Equity Residential as relative underperformance has created an attractive entry point; our price target is unchanged. YTD, the stock has underperformed multifamily peers and the RMZ Index by 320 bps and 800 bps, respectively."

"We expect the company to continue to post sector-leading core growth, as it further bolsters the capital structure and "upcycles" the portfolio. With this upgrade, we are further increasing our multifamily overweight position."

For an analyst ratings summary and ratings history on Equity Residential click here. For more ratings news on Equity Residential click here.

Shares of Equity Residential closed at $60.72 yesterday.

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