EastGroup Properties price target raised to $200 from $190 at Raymond James

Raymond James raised the firm’s price target on EastGroup Properties (EGP) to $200 from $190 and keeps a Strong Buy rating on the shares. Leasing activity to start the year was better than expected with record or near-record levels driven by increased space needs ahead of anticipated tariffs, somewhat of a “pull-forward” of demand, the analyst tells investors in a research note. The mark-to-market opportunity remains attractive, and demand for industrial space remains resilient due to increasing e-commerce penetration and the low cost of rent within supply chains, the firm says.