Mizuho lowered the firm’s price target on Camden Property to $101 from $120 and keeps a Buy rating on the shares. The analyst says the apartment sector offers a “fairly balanced risk/reward with valuation and a lack of compelling alternatives as key supports,” though recession and incremental tenant bad debt are potential risks to watch. The firm believes the sector lacks meaningful catalysts near-term until fiscal 2024 becomes more of a focus and expectations are reset.
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Read More on CPT:
- Camden Property price target raised to $138 from $137 at Barclays
- Camden Property price target raised to $134 from $127 at Truist
- Camden Property price target raised to $126 from $124 at Piper Sandler
- Camden Property sees Q3 core FFO $1.71-$1.75, consensus $1.74
- Camden Property sees FY23 core FFO $6.83-$6.93, consensus $6.86