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Fly News Breaks for November 20, 2019
AVB
Nov 20, 2019 | 09:11 EDT
SunTrust analyst Michael Lewis raised his price target on AvalonBay to $226 and kept his Buy rating, saying its "match-funded development activity" should support its above-average near-term earnings growth. The analyst adds that given the REIT's development rights for up to $3.7B in projects and the second-lowest financial leverage in the group, he believes that the shares are undervalued on a relative basis.
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