In a report published Wednesday, Goldman Sachs analyst Andrew Rosivach upgraded Tanger Factory Outlet Centers SKT from Sell to Neutral and raised the price target on the company from $34.50 to $39.
In the report, Goldman Sachs stated, "Tanger's advantage from development has improved as a result of (1) a pipeline that has more than doubled in size in the last two quarters and (2) a lower cost of capital from the recent REIT rally. Due to better earnings growth potential, we upgrade SKT to Neutral from Sell and raise our price target to $39 from $34.50."
Tanger Factory Outlet Centers closed on Tuesday at $34.44.
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