Wolfe Research upgrades Equity Lifestyle to Outperform on high quality portfolio

As previously reported, Wolfe Research upgraded Equity Lifestyle to Outperform from Peer Perform with a $75 price target. The stock represents a “simple, clean story” with solid and visible growth that should work regardless of the macro environment, the analyst tells investors in a research note. While valuation on Equity Lifestyle is not cheap on a relative basis, Equity Lifestyle has a similar two-year growth rate relative to the firm’s coverage, which should be “enough to generate relative outperformance”, the firm added.