Mizuho upgraded Federal Realty to Outperform from Neutral with a price target of $130, up from $121. The company is entering a new growth cycle, the analyst tells investors in a research note. The firm says elevated in-place escalators, leasing and occupancy upside, and accretive capital recycling should drive above-average earnings growth for Federal Realty through 2028. Mizuho also believes the company's "superior consumer demographics offer incremental insulation for its portfolio in a potentially slower macro" backdrop.
