As previously reported, Stifel analyst Simon Yarmak upgraded Camden Property (CPT) to Buy from Hold with a $122.75 price target The firm notes that the Sunbelt is recovering, supply is dropping, and Stifel believes that it is time to get more constructive on the name. Following the underperformance of the multi-family REIT group, valuation has become more attractive, with the sector’s next-12-month FFO multiple of 15.8-times now nearly one standard deviation below its 10-year average of 18.5-times, the analyst tells investors in a research note.
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- Camden Property upgraded to Buy from Hold at Stifel
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