As previously reported, BofA downgraded Sun Communities (SUI) to Underperform from Neutral with a price target of $114, down from $147. After updating the firm’s model following Q3 earnings, the firm lowered its 2025 FFO per share estimate to $6.93 from $7.36 and its 2026 estimate to $7.19 from $7.85. The firm expects Sun Communities to underperform until management changes are finalized, the executive team addresses the key investor concern of governance and “a clear strategic direction by a new CEO is laid out,” the analyst tells investors.
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Read More on SUI:
- Sun Communities downgraded to Underperform from Neutral at BofA
- Sun Communities Restructures and Leadership Changes Announced
- Sun Communities price target lowered to $135 from $147 at RBC Capital
- Sun Communities price target lowered to $138 from $145 at BMO Capital
- Sun Communities downgraded to Neutral from Outperform at Baird