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Fly News Breaks for May 18, 2017
ESS
May 18, 2017 | 07:34 EDT
As noted earlier, SunTrust downgraded Essex to Hold from Buy. As reasons for the downgrade, analyst Michael Lewis cited valuation and what he sees as the "quickly narrowing growth advantage between the company's West Coast markets and other REITs' geographies." He expects Essex's revenue and earnings growth to decline significantly. Target remains $257.
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