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Goldman Sachs upgrades Tanger stock to buy with target raised to forty dollars
Goldman Sachs has upgraded Tanger Factory Outlet Centers to a "Buy" rating, raising the price target to $40 from $39, citing strong financial health and positive earnings growth outlook. The company has maintained a 3.35% dividend yield for 33 years and is expected to see a 6.5% annual growth rate in funds from operations through 2027. Meanwhile, S&P Global Ratings affirmed Tanger's credit rating at 'BBB-', highlighting its low leverage and strong occupancy rates, though cautioning against potential pressures from high interest rates.
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