MAA price target lowered to $170 from $180 at Scotiabank

Scotiabank lowered the firm’s price target on MAA (MAA) to $170 from $180 and keeps an Outperform 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.