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Fly News Breaks for November 23, 2016
AVB
Nov 23, 2016 | 07:50 EDT
As previously reported, BofA/Merrill downgraded AvalonBay to Neutral from Buy and lowered its price target to $179 from $191. Analyst Jeffrey Spector believes supply will be an issue in coastal markets in 2017 and expects "underwhelming" guidance in February due to supply concerns, macro uncertainties, and slowing fundamentals.
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