Flagship Communities REIT initiated with an Outperformer at CIBC

CIBC initiated coverage of Flagship Communities REIT with an Outperformer rating and C$19.50 price target. Flagship provides Canadian investors with direct exposure to the U.S. manufactured housing communities sector, with a current focus on markets within Kentucky, Indiana, Ohio, Tennessee, Arkansas, Illinois, Missouri and West Virginia, the analyst tells investors in a research note. The firm likes the company’s “attractive” long-term growth potential and “defensive characteristics.”