BofA analyst Joshua Dennerlein upgraded Essex Property Trust to Buy from Neutral with a price target of $275, up from $250. The firm came away from its annual West Coast property tour more upbeat on Northern California suburban residential. The key West Coast apartment market “has found a floor and is primed for better growth in the years ahead,” the analyst tells investors in a research note. BofA now believes Essex is positioned for another year of beats and guidance raises.
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