Douglas Emmett upgraded to Hold from Underperform at Jefferies

Jefferies upgraded Douglas Emmett to Hold from Underperform with a price target of $15, up from $10. Headlines for broader office commercial real estate will remain negative as the market continues to right-size, the analyst tells investors in a research note. However, the firm expects sentiment for public real estate investment trusts to improve, driven by better leasing, slowing occupancy declines, and a continued flight-to-quality. As such, Jefferies moved to a Neutral sector outlook.