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Fly News Breaks for February 18, 2020
AVB
Feb 18, 2020 | 08:40 EDT
SunTrust analyst Michael Lewis raised his price target on AvalonBay to $235 and kept his Buy rating after its Q4 earnings beat. The analyst notes that while apartment REIT multiples are elevated and "absolute" upside in the sector may be limited, he is comfortable with recommending the stock on a relative basis given its competitive growth, valuation, and large development pipeline.
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