Camden Property price target raised to $111 from $99 at Mizuho

Mizuho analyst Haendel St. Juste raised the firm’s price target on Camden Property to $111 from $99 and keeps a Buy rating on the shares. The company’s Q1 report included “some encouragement for bulls,” including robust absorption, improved new lease rent trends, fewer concessions, and a modestly de-risked fiscal 2024 revenue guide, the analyst tells investors in a research note. On the other hand, the firm says, bears can point to concerns including the above-average job growth required to absorb the historically-high new supply growth this year, and slowing renewal rate growth.