Equity Lifestyle initiated with an Outperform at Mizuho

Mizuho initiated coverage of Equity Lifestyle (ELS) with an Outperform rating and $72 price target The shares are trading at a discounted valuation versus the company’s history and offers investors an “attractive” earnings growth acceleration story to buy into 2027, the analyst tells investors in a research note. The firm says Equity Lifestyle has historically been able to maintain positive same store net operating income throughout the economic cycle and better than apartments.