EastGroup Properties price target raised to $180 from $170 at Baird

Baird analyst David Rodgers raised the firm’s price target on EastGroup Properties to $180 from $170 and keeps an Outperform rating on the shares. The analyst said management provided its usual cautious outlook for 2023 as the overhang of the economic slowdown, somewhat uncertain capital markets and development timing each weighed on the outlook. We expect the company to increase its guide throughout the year supporting our rating and price target.