Raymond James upgraded Centerspace (CSR) to Strong Buy from Outperform with a price target of $69, up from $66. A compelling valuation gap has opened up relative to multifamily peers amid recent market volatility, the analyst tells investors in a research note. The firm feels the shares have been unfairly penalized despite growing evidence of improving fundamentals across Centerspace’s markets into May, and sees rent pricing acceleration continuing across much of the Midwest, and particularly in Centerspace’s home market of Minneapolis.
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