Equity Residential price target raised to $70 from $68 at Morgan Stanley
The Fly

Equity Residential price target raised to $70 from $68 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Equity Residential to $70 from $68 and keeps an Equal Weight rating on the shares. Apartments are the best performing REIT subsector year-to-date, but with peak deliveries still to come, the firm wonders if the group, now trading at a premium, has “gotten ahead of itself,” the analyst tells investors. The firm, which advises investors to “stay selective,” raised its apartment REIT price targets by about 6% on average.

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