Evercore ISI downgraded Federal Realty (FRT) to In Line from Outperform with a price target of $107, up from $106. The stock’s recent outperformance and the firm’s price target implies less upside compared to other stocks in the firm’s REIT coverage, the analyst tells investors in a broader REIT note in which the analyst also rolled forward models to incorporate the firm’s 2027 AFFO estimates into its price target framework.
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