JPMorgan Chase Upgrades EastGroup Properties to 'Overweight'

JPMorgan Chase & Co. has upgraded EastGroup Properties (NYSE:EGP) from 'neutral' to 'overweight', according to a report by Marketbeat Ratings.

The brokerage currently has a $231 price objective on the real estate investment trust's stock, suggesting a potential upside of 13.46% from its current price.

This upgrade comes after other analysts have issued reports on EastGroup Properties, including Evercore setting a $200 price target and Citigroup increasing their price target to $250 with a 'buy' rating.

Thirteen equities research analysts have rated the stock with a Buy rating, while five have assigned a Hold rating. The company has an average rating of 'Moderate Buy' and a consensus price target of $221.37.