Evercore ISI raised the firm’s price target on Equity Residential to $62 from $61 and keeps an Outperform rating on the shares. The firm is rolling forward its valuation framework in its real estate coverage to capture an additional year of earnings growth, rolling forward its AFFO estimates from 2024 to 2025 and adjusting its price targets accordingly.
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Read More on EQR:
- Equity Residential price target lowered to $59.50 from $60 at Stifel
- Equity Residential price target lowered to $66 from $69 at Wells Fargo
- Equity Residential sees Q4 normalized FFO 99c-$1.01, consensus $1.00
- Equity Residential sees FY23 normalized FFO $3.77-$3.79, consensus $3.79
- Equity Residential reports Q3 normalized FFO 96c, consensus 97c
