Shares of Tanger Factory Outlet Centers (SKT, Financial) climbed 2.1% on Friday morning following an upgrade from Goldman Sachs. The investment bank raised its rating to Buy from Neutral, citing sustainable bottom-line growth driven by stable same-store net operating income and strategic acquisitions. Goldman noted Tanger's plans to explore growth through property acquisitions, including non-outlet shopping centers, and anticipates 3% growth in same-store NOI for 2025-2027. Despite slightly lower projections from previous years, the outlook remains positive according to Wall Street analysts.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for Tanger Inc (SKT, Financial) is $38.88 with a high estimate of $42.00 and a low estimate of $35.00. The average target implies an upside of 15.82% from the current price of $33.57. More detailed estimate data can be found on the Tanger Inc (SKT) Forecast page.
Based on the consensus recommendation from 10 brokerage firms, Tanger Inc's (SKT, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Tanger Inc (SKT, Financial) in one year is $25.90, suggesting a downside of 22.84% from the current price of $33.565. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Tanger Inc (SKT) Summary page.
