BMO Capital analyst John Kim upgraded Equity Residential to Outperform from Market Perform with a price target of $70, up from $68. The analyst believes Equity Residential trades at a discounted valuation despite moderate supply risks and a “surprisingly resilient” employment market. The firm believes the company introduced conservative 2024 guidance, which it is is likely to surpass during the year, particularly with U.S. employment resilient.
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Read More on EQR:
- Equity Residential price target lowered to $67 from $71 at Truist
- Equity Residential Expands Board, Appoints New Trustees
- Equity Residential upgraded to Market Perform from Underperform at Raymond James
- Equity Residential Senior Management to Present at Citi Conference
- Equity Residential price target lowered to $61 from $62 at Mizuho
