Evercore ISI analyst Steve Sakwa lowered the firm’s price target on Douglas Emmett to $13 from $15 and keeps an In Line rating on the shares. As part of the firm’s Q3 office REITs preview, the analyst “slightly increased” estimates for FY23 and continues to “selectively recommend a few office REITs.” However, even though the firm is hearing about some green shoots in a few markets like San Francisco and New York, the firm needs to see better leasing activity in order to believe the Q3 rally is sustainable, the analyst added.
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Read More on DEI:
- Douglas Emmett initiated with a Neutral at Wedbush
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- Douglas Emmett initiated with a Sector Weight at KeyBanc
- Douglas Emmett downgraded to Neutral from Overweight at Piper Sandler
- Douglas Emmett price target raised to $15 from $14 at Evercore ISI
