RBC Capital analyst Wes Golladay raised his price target on MAA to $120 and kept his Outperform rating after meeting with its CFO as part of the non-deal roadshow last week. The analyst says the discussion highlighted the company's "improving fundamentals" as it "moved up the risk curve" over the past few quarters with the impact of the Post Properties acquisition. Golladay believes that MAA can generate a 5% AFFO per share growth over the next two years as its same-store expense growth is normalized and as its development pipeline expands to $400M-$600M from $231M.