UPDATE: Jefferies Upgrades Apartment Income REIT Corp (AIRC) to Buy

Jefferies analyst Jonathan Petersen upgraded Apartment Income REIT Corp (NYSE: AIRC) from Hold to Buy with a price target of $63.00 (from $52.00).

The analyst comments "We view AIRC as one of the few bargains left in the Multifamily space. We believe the setup to outgrow peers on a same-store basis and execution on lowering leverage should lead to a narrowing of the valuation gap vs. the rest of the space."

For an analyst ratings summary and ratings history on Apartment Income REIT Corp click here. For more ratings news on Apartment Income REIT Corp click here.

Shares of Apartment Income REIT Corp closed at $53.28 yesterday.

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