UPDATE: Cantor Fitzgerald Downgrades Equity Lifestyle Properties to Hold on Strong Absolute/Relative Performance
In a report published Friday, Cantor Fitzgerald analyst David Toti downgraded the rating on Equity Lifestyle Properties (NYSE: ELS) from Buy to Hold, but reiterated the $75.50 price target.
In the report, Toti noted, “We downgrade shares of Equity Lifestyle Properties (NYSE: ELS) to Hold from BUY; we leave our $75.50 price target unchanged. We updated our ELS price target on February 4, 2013. The downgrade is predicated upon strong absolute and relative performance in the shares, which have risen 20.0% YTD, outpacing the RMZ by 8.1% and S&P 500 Index by 8.3%. The achievement of our price target, absent meaningful visibility to additional catalysts, causes us to take a more neutral view.”
Equity Lifestyle Properties closed on Thursday at $80.45.
Latest Ratings for ELS
|Apr 2014||Imperial Capital||Maintains||Outperform|
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