Sun Communities price target lowered to $142 from $145 at Jefferies

Jefferies lowered the firm’s price target on Sun Communities (SUI) to $142 from $145 and keeps a Buy rating on the shares. The firm is “constructive” on manufactured housing into 2025, citing the tailwinds of an aging population and affordability challenges in the housing market. The analyst expects growth above other residential sectors at a “reasonable valuation.”