AMH upgraded to Outperform from In Line at Evercore ISI

Evercore ISI analyst Steve Sakwa upgraded AMH (AMH) to Outperform from In Line with a price target of $42, up from $41. If mortgage rates remain elevated due to forthcoming economic policies, this should keep demand for single family rentals high and boost pricing power marginally in 2025 and beyond, the analyst tells investors. Both AMH and Invitation Homes (INVH) are on pace to outperform apartment REITs in 2024 and 2025 and the firm thinks this “makes for a compelling case for both companies,” the analyst added.