Wolfe Research upgraded Aimco (AIV) to Outperform from Peer Perform with a $10 price target implying a year-end total return of 19%. The firm sees an attractive entry point at current shared levels with Aimco’s asset sale catalysts nearing. The company currently has $852M book value of land, construction in progress, and development properties in lease-up, or about 67% of today’s equity value, the analyst tells investors in a research note.
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