Wells Fargo analyst Blaine Heck raised the firm’s price target on EastGroup Properties (EGP) to $215 from $159 and keeps an Overweight rating on the shares. The firm adjusted price targets in the industrial and cold storage real estate investment trust group as a part of a Q2 preview. It believes conservative initial outlooks and Q1 beats should “insulate” the REITs from negative estimate revisions, but says the length of leasing softness will be key for investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EGP: