Federal Realty price target raised to $111 from $93 at Jefferies

Jefferies analyst Linda Tsai raised the firm’s price target on Federal Realty to $111 from $93 and keeps a Hold rating on the shares. A strong balance sheet and Federal Realty’s portfolio of high-quality shopping centers in first ring suburbs supports a premium multiple, the analyst tells investors in a research note. The firm thinks the stock should hold up in an environment of slower economic growth, given higher exposure to demographic wealth.