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Amid the devastating Los Angeles wildfires, spurred on by a windstorm last week, one analyst picked a real estate stock to watch.
The Real Estate Analyst: Piper Sandler analyst Alexander Goldfarb released a note on Sunday, pegging office REIT Douglas Emmett Inc (NYSE:DEI) as a possible long-term beneficiary of rebuilding efforts. The analyst upgraded Douglas Emmett to an Overweight rating, maintaining its price target of $20.
Main Takeaways: Goldfarb acknowledged the “the devastation to the lives of Angelenos” and called Douglas Emmett as a “near pure-play on the West Side of LA.” The largest fire is concentrated in Pacific …
Full story available on Benzinga.com
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