Wolfe Research analyst Andrew Rosivach upgraded Empire State Realty (ESRT) to Outperform from Peer Perform with a $10 price target The firm thinks earnings are most likely to be steady going forward absent one time events, which should be good enough given low growth for REITs. Growth appears to be optically declining meaningfully in 2025, the analyst tells investors in a research note, adding that the firm estimates “Goodco” earnings will be only modestly negative in 2025 and should recover in 2026.
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