FINWIRES · TerminalLIVE
FINWIRES

Research Alert: CFRA Maintains Hold Rating On Shares Of Equity Residential

By

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our target by $3 to $69 per share, applying a wider equity risk premium and a forward P/FFO of 16.8x, a premium to the multifamily residential REIT average at 15.5x given EQR's premium urban, coastal markets that face less new supply in the trust's local markets. We keep our 2026 FFO estimate at $4.10 and 2027's at $4.25 on unchanged revenue forecasts of $3.2B and $3.3B. EQR and its peers have underperformed the S&P 500 given the group's defensive characteristics and slower but steady growth profile. EQR's stock beta is 0.74, indicating slightly less price volatility than the equity market. The shares offer an attractive 4.3% dividend yield, well above the S&P 500, which is below 2.0%. Our cautious view on EQR is tied to lower expectations on rental rate increases and higher operating expenses. Even in EQR's coastal markets, we are seeing the impact of weak new job growth in technology and entertainment on new tenant leases. This supports a moderating outlook for this real estate asset class.

Related Articles

Research

Research Alert: CFRA Reiterates Strong Buy Opinion On Shares Of Lithia Motors Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month target by $25 to $375, based on a 2027 P/E of 9.0x, a modest discount to LAD's 10-year forward P/E of 10.3x. We reduce our adjusted EPS estimates to $35.30 from $39.25 for '26 and to $41.80 from $43.20 for '27. Following LAD's Q1 earnings beat, we are lowering our estimates and price target but reiterating our Strong Buy on the shares. LAD remains our top pick in auto retail, as the company continues to outperform in a more challenging environment for dealerships. LAD's same-store-sales growth is outperforming peers by a wide margin and its combination of aggressive share repurchases and accretive acquisitions is helping support its bottom line. Impressively, LAD bought back ~4% of total outstanding shares in Q1 after retiring 11% of its share count in 2025. We find LAD's current risk/reward compelling with significant upside potential in a more favorable demand environment, continuing to view the long-term growth story as intact and noting management's history of solid execution.

$LAD
Research

Kinross Gold Maintained at Buy at Stifel Canada Following Q1 Results; Price Target Kept atC$65.00

Stifel Canada on Thursday maintained its buy rating on the shares of Kinross Gold (K.TO, KGC) and its C$65.00 price target following the company's first-quarter results."Kinross reported Q1/26 adjusted EPS of $0.71 vs. our $0.69 (consensus: $0.72) on attributable GEO production of 492.6Koz vs. our 489.8Koz (consensus: 481.8Koz) at attributable cost of sales of $1,380/GEO and AISC of $1,732/GEO which were in-line and within the FY26 guidance ranges ($1,360 +/- 5% and $1,730 +/- 5%, respectively). Adjusted Q1/26 EPS absorbed a $91Mln withholding-tax charge, of which $65Mln relates to taxes payable in future quarters tied to repatriation of Mauritania cash flows. Record Q1/26 attributable FCF of $837.5Mln implies FCF/GEO ex-WC of $2,656/GEO (+$1,034/GEO or +63.8% QoQ vs. +$722/oz or +17.4% in gold price). Kinross repurchased $250.1Mln in shares in Q1/26 (plus $50Mln in April) and reaffirmed its 40%-of-FCF return-of-capital target. We estimate approx. $1.3Bln for share buybacks in 2026 (vs. $0.6Bln in 2025) or 3.4% of shares outstanding (vs. 2.5% in 2025). Q1/26 total liquidity stood at $3.9Bln, including $2.2Bln of cash (+$443Mln QoQ)," analyst Ralph Profiti wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $40.93, Change: $+0.07, Percent Change: +0.17%

$K.TO$KGC
Australia

Stifel Nicolaus Raises ONEOK Price Target to $99 From $91

ONEOK (OKE) has an average rating of overweight and mean price target of $94.65, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $91.91, Change: $+2.59, Percent Change: +2.90%

$OKE