Wells Fargo Upgrades Invitation Homes (INVH) to Overweight
Wells Fargo analyst James Feldman upgraded Invitation Homes (NYSE: INVH) from Equal Weight to Overweight with a price target of $33.00 (from $31.00).
The analyst commented: "Upgrading to Overweight on 1) improved SS revenue outlook with better-than-feared spring leasing season, 2) share buyback activity combined with improved SS revenue outlook positions INVH for CFFO guidance bump, 3) FY26 & FY27 estimates above the Street, 4) 21st Century ROAD to Housing Act likely to open up portfolio acquisition opportunities for public SFR REITs & 5) compelling entry point for investors & share repurchases at 6.3% implied cap rate & 14.5x CFFO multiple."
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Shares of Invitation Homes closed at $29.05 yesterday.