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Fly News Breaks for January 12, 2016
AVB
Jan 12, 2016 | 06:49 EDT
Cowen analyst James Sullivan downgraded AvalonBay to Market Perform from Outperform and increased his price target to $192 form $189 on shares. Sullivan said recent data suggests a possible slowdown in rent growth in the back half of the year, and vies Apartment sector valuations as stretched relative to the broader REIT index.
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