Essex Upgraded from Hold to Buy
On June - 9 - 2010
The company’s management team has begun snapping up distressed assets. Petrik expects Essex will continue to buy up distressed properties, particularly in West Coast markets, which he anticipates will stabilize over the next year.
Petrik upgraded the stock to “Buy” from “Hold” with a target price of $115.
THE STOCK: Shares of Essex Property Trust added $2.12 to $98.86 in afternoon trading Monday.
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