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Fly News Breaks for May 22, 2017
SUI
May 22, 2017 | 07:39 EDT
As previously reported, BofA/Merrill upgraded Sun Communities to Buy from Underperform and raised its price target to $93 from $71. Analyst Joshua Dennerlein said Sun is on track to deliver over 2000 expansion sites n 2017, setting up for a solid 2018. He expects same store sales to accelerate in 2018 and for the Carefree acquisition to add to growth. As a result, the analyst raised his 2018 FFO estimate to $4.60 from $4.48 and believes the the company is positioned to raise the dividend.
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