Wedbush upgraded Douglas Emmett (DEI) to Outperform from Neutral with a price target of $21, up from $19. The company is starting to see “signs of life” in its largest leasing users, the analyst tells investors in a research note. The firm says this is a good sign that created positive office absorption during Q3. Wedbush likes Douglas Emmett’s “unique” small lease business mode, which it says operates more like a multifamily portfolio than a capex-intensive office portfolio. The company’s turn to better earnings growth could happen sooner than expected, the firm contends.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DEI:
- Douglas Emmett price target raised to $18 from $17 at Jefferies
- Douglas Emmett upgraded to Outperform at Scotiabank on occupancy recovery
- Douglas Emmett upgraded to Outperform from Sector Perform at Scotiabank
- Douglas Emmett management to meet virtually with Piper Sandler
- Douglas Emmett price target raised to $10.50 from $9 at BofA