Truist analyst Michael Lewis lowered the firm’s price target on Equity Residential (EQR) to $70 from $75 and keeps a Buy rating on the shares. A lower 2026 FFO estimate and reduced 12-month price target reflect cooling national employment trends, though the model still shows steady SSNOI and earnings growth. Shares continue to look materially undervalued at a 6.5% implied cap rate, the analyst tells investors in a research note.
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