UPDATE: JPMorgan Upgrades AvalonBay Communities (AVB) to Overweight

(update comment)

JPMorgan analyst Anthony Paolone upgraded AvalonBay Communities (NYSE: AVB) from Neutral to Overweight with a price target of $230.00.

The analyst comments "We are upgrading AVB shares to Overweight from Neutral, as we think the company’s pivot toward focusing on operational efficiencies should be positive. It has historically been behind the curve on this front compared to peers, and we believe this focus, combined with its development pipeline, will result in strong earnings growth over the next two to three years."

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 $206.64 yesterday.

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