Scotiabank lowered the firm’s price target on AvalonBay (AVB) to $226 from $236 and keeps a Sector Perform rating on the shares. The firm is updating its price targets on U.S. Multifamily REITs stocks under its coverage, the analyst tells investors. Following Q2-earnings underperformance, valuation for stocks in this sector look “very attractive” on an absolute basis and relative basis.
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