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Fly News Breaks for September 6, 2019
AIV
Sep 6, 2019 | 06:05 EDT
BMO Capital analyst John Kim upgraded Aimco to Outperform and raised his price target to $58, saying the stock represents "standout value" in the "attractive" apartment REIT sector. The analyst cites the 9% discount to net asset value on Aimco, having underperformed the apartment REITS by 10% from slowing earnings this year as a result of a non-core asset sale in Q3 last year. Kim believes that the impact of that deal will dissipate going forward and the REIT will be able to close the valuation gap.
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