AvalonBay price target raised to $182 from $176 at Jefferies

Jefferies raised the firm’s price target on AvalonBay to $182 from $176 and keeps a Hold rating on the shares. AvalonBay has a bi-coastal portfolio of mostly Class-A assets with meaningful exposure to Northern California, Southern California, Boston, Washington D.C., Seattle, and New York, though the market has already priced in some expectation of renter migration toward more satellite/secondary markets, the analyst tells investors in a research note.