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Fly News Breaks for September 5, 2017
AVB
Sep 5, 2017 | 05:46 EDT
Goldman Sachs analyst Andrew Rosivach downgraded AvalonBay Communities to Neutral and lowered his price target for the shares to $196 from $225. Employment growth within AvalonBay's markets, particularly the San Francisco Bay Area, has been slowing more than across the United States as a whole, Rosivach tells investors in a research note. He also believes the company's development business faces challenges amid lower yields and a "difficult exposure" to street retail.
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