AvalonBay price target raised to $270 from $255 at Piper Sandler

Piper Sandler raised the firm’s price target on AvalonBay (AVB) to $270 from $255 and keeps an Overweight rating on the shares. The firm sees the pre-election transaction pause giving way to a resumption of decision-making, whether leasing, capital markets, fund-raising, etc. Piper believes the direction of interest rates remains critical.