Invitation Homes upgraded to Buy from Hold at Jefferies

Jefferies upgraded Invitation Homes to Buy from Hold with a price target of $41, up from $33. Single family is better positioned to grow than multifamily in 2024 as there are fewer supply concerns and the renter demographic is more durable, the analyst tells investors in a research note. The firm expects Invitation to demonstrate pricing power and maintain earnings growth above their multifamily peers.