Tanger: Barclays Maintains Equal-Weight, Raises PT to $35 from $34.

Tanger: Barclays Maintains Equal-Weight, Raises PT to $35 from $34.

Barclays has maintained its Equal-Weight rating for Tanger Factory Outlet Centers, Inc. (NYSE:SKT) while raising its price target to $35 from $34, according to a recent update from the investment bank. The move reflects Barclays' positive outlook on the company's operational performance and future growth prospects.

Tanger, a leading operator of outlet shopping centers in the United States, has been performing well, driven by strong same-store sales and occupancy rates. The company's focus on enhancing the shopping experience and attracting high-quality tenants has been a key driver of its success. Barclays expects Tanger to continue this positive trend, supported by its strong balance sheet and diversified portfolio of properties.

The investment bank also noted that Tanger's recent acquisitions, including the purchase of the former Macy's location in New Jersey, have the potential to generate significant value for shareholders. Barclays believes that these acquisitions will help Tanger to further diversify its portfolio and expand its customer base.

Despite the positive outlook, Barclays acknowledges the risks associated with the retail sector, including the impact of e-commerce and changing consumer preferences. However, the investment bank believes that Tanger's strong management team and strategic focus on outlet retail make it a well-positioned company in this competitive market.

Overall, Barclays' decision to maintain an Equal-Weight rating and raise its price target for Tanger reflects the investment bank's confidence in the company's ability to navigate the challenges of the retail sector and continue to deliver strong returns for shareholders.