Centerspace upgraded to Outperform from Market Perform at Raymond James

Raymond James analyst Buck Horne upgraded Centerspace (CSR) to Outperform from Market Perform with a $66 price target The firm says a “compelling valuation gap has opened up” relative to Centerspace’s multifamily peers amid recent market volatility. The shares have been “unfairly penalized” despite growing evidence of improving fundamentals across the company’s markets into early April, the analyst tells investors in a research note. Raymond James notes that several multifamily industry data providers have already observed near-record apartment demand during Q1, and it sees evidence that a bottom for rental pricing has been established in Centerspace’s key growth market of Denver.