Raymond James analyst Jonathan Hughes lowered the firm’s price target on EastGroup Properties (EGP) to $190 from $210 and keeps a Strong Buy rating on the shares ahead of quarterly results. The firm says EastGroup remains its top pick in industrial REITs due to accelerating NOI growth this year, its attractive valuation coupled with sector-leading AFFO growth through 2026, strong balance sheet and capacity for external growth activity, and smaller size that makes any external growth more impactful.
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