MAA price target raised to $167 from $156 at Truist

Truist analyst Michael Lewis raised the firm’s price target on MAA to $167 from $156 and keeps a Buy rating on the shares after its Q2 results. The firm is adjusting its model to reflect lower interest rate expectations going forward while also noting that the company’s same-store net operating income growth should materially improve in the second half of the year and beyond as supply pressures ease, the analyst tells investors in a research note. Property transactions across the country are proving the stock remains significantly undervalued, Truist added.