Federal Realty price target raised to $120 from $110 at Credit Suisse

Credit Suisse analyst Tayo Okusanya raised the firm’s price target on Federal Realty to $120 from $110 and keeps a Neutral rating on the shares following quarterly results. While 2023 FFO/share guidance represents just 2.5% year-over-year growth at the midpoint, and Federal Realty still trades at a meaningful premium to the Shopping Center REIT group, the firm believes this could bode well for the stock at market open given Federal Realty’s history of raising guidance as the year progresses and positive management commentary on the earnings call aftermarket on February 9, 2023.