As previously reported, Evercore ISI analyst Steve Sakwa upgraded AvalonBay to Outperform from In Line with an unchanged price target of $194. The firm didn’t make any material changes to revenue or NOI growth across the apartment or single-family rental space as part of its Q1 residential REIT preview note, but it is upgrading AvalonBay from a valuation standpoint.
Published first on TheFly
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