Jefferies Boosts Price Target on AvalonBay Communities (AVB) to $131
AVB Hot Sheet
Rating Summary:9 Buy, 5 Hold, 4 Sell
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Jefferies raised its price target on AvalonBay Communities (NYSE: AVB) from $117 to $131 but kept its Hold rating.
The firm comments, "While AVB possesses an enviable development pipeline that should drive double-digit earnings growth over the next 1-2 years, we believe AVB's premium valuation reflects this. As such, we reiterate our Hold rating on AVB shares."
For an analyst ratings summary and ratings history on AvalonBay Communities click here. For more ratings news on AvalonBay Communities click here.
Shares of AvalonBay Communities closed at $139.82 yesterday, with a 52 week range of $107.54-$139.98.
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The firm comments, "While AVB possesses an enviable development pipeline that should drive double-digit earnings growth over the next 1-2 years, we believe AVB's premium valuation reflects this. As such, we reiterate our Hold rating on AVB shares."
For an analyst ratings summary and ratings history on AvalonBay Communities click here. For more ratings news on AvalonBay Communities click here.
Shares of AvalonBay Communities closed at $139.82 yesterday, with a 52 week range of $107.54-$139.98.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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