Mizuho analyst Haendel St. Juste upgraded AvalonBay (AVB) to Outperform from Neutral with a price target of $242, up from $239. Apartment real estate investment trust valuations appear fair versus multiples and private market values, but fully valued versus bond market proxies, the analyst tells investors in a research note. The firm upgraded AvalonBay and made the stock its top pick among Apartments in 2025, citing the company’s “far superior and multi-pronged” growth tailwinds, coupled with an attractive relative multiple profile.
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