Scotiabank upgraded UDR to Outperform from Sector Perform with a price target of $45, up from $44. The firm, which is reaffirming its broader Multifamily REIT thesis calling for favoring portfolios where it forecasts less supply-risk and avoiding larger Sunbelt exposure, sees a relative valuation discount in UDR shares that “offers an attractive entry point,” the analyst tells investors.
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