Goldman Sachs upgraded Tanger (SKT) to Buy from Neutral with a price target of $40, up from $39. The company’s same-store net income growth will stay “higher for longer,” the analyst tells investors in a research note. The firm believes Tanger can continue to surprise to the upside and generate consistent funds from operations growth of 6.5% annually through 2027. The company has “uniquely high” near-term lease expirations, allowing it to capture strong leasing spreads, contends Goldman.
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