Sun Communities price target raised to $145 from $144 at Baird

Baird analyst Wesley Golladay raised the firm’s price target on Sun Communities to $145 from $144 and keeps an Outperform rating on the shares. The firm said the MH and annual RV segments continue to perform well but transient RV and marina have softened. The UK real property NOI has exceeded expectations though UK home sales remain under pressure. Importantly, the company is executing on simplifying the business and reducing leverage.