KeyBanc Downgrades AvalonBay Communities (AVB) to Hold; Valuation Call
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Price: $190.27 -0.2%
Rating Summary:
13 Buy, 26 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 9 | Down: 14 | New: 29
Rating Summary:
13 Buy, 26 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 9 | Down: 14 | New: 29
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KeyBanc downgraded AvalonBay Communities (NYSE: AVB) from Buy to Hold with a price target of $138.00.
KeyBanc analyst says, "We are downgrading AVB to HOLD on valuation, as the stock has neared our $138 price target and the Company's growth prospects now appear fairly priced into the current valuation. We expect AVB to continue to post strong core growth and we remain positive on a long-term secular fundamental story in the apartment business. However, we now view AVB's earnings trajectory and NAV creation potential as well understood by the market and this seems appropriately reflected in consensus estimates.
For more ratings news on AvalonBay Communities click here and for the rating history of AvalonBay Communities click here.
Shares of AvalonBay Communities closed at $134.36 yesterday.
KeyBanc analyst says, "We are downgrading AVB to HOLD on valuation, as the stock has neared our $138 price target and the Company's growth prospects now appear fairly priced into the current valuation. We expect AVB to continue to post strong core growth and we remain positive on a long-term secular fundamental story in the apartment business. However, we now view AVB's earnings trajectory and NAV creation potential as well understood by the market and this seems appropriately reflected in consensus estimates.
For more ratings news on AvalonBay Communities click here and for the rating history of AvalonBay Communities click here.
Shares of AvalonBay Communities closed at $134.36 yesterday.
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