Equity Lifestyle upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital upgraded Equity Lifestyle (ELS) to Outperform from Sector Perform with a price target of $70, up from $66. The firm believes the company will again be close to the top of the residential group for funds from operations growth in 2026. Equity Lifestyle also offers better downside protection than perries given the stability of the business and limited impact from weak employment or artificial intelligence, the analyst tells investors in a research note.