Evercore ISI analyst Steve Sakwa raised the firm’s price target on AvalonBay to $183 from $181 and keeps an Outperform rating on the shares. The firm is rolling forward its valuation framework in its real estate coverage to capture an additional year of earnings growth, rolling forward its AFFO estimates from 2024 to 2025 and adjusting its price targets accordingly.
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Read More on AVB:
- AvalonBay price target lowered to $202 from $214 at Truist
- AvalonBay price target lowered to $189 from $192 at Wells Fargo
- AvalonBay upgraded to Overweight from Neutral at Piper Sandler
- AvalonBay raises FY23 core FFO view to $10.58-$10.68 from $10.46-$10.66
- AvalonBay sees Q4 core FFO $2.69-$2.79
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