NexPoint Residential price target raised to $55 from $45 at Compass Point

Compass Point analyst Merrill Ross raised the firm’s price target on NexPoint Residential to $55 from $45 and keeps a Buy rating on the shares. Refinancings maintain balance sheet flexibility, so the company can continue to allocate and reallocate capital to high growth assets it identifies in its core markets, notes the analyst, who sees cap rate compression reflecting the return of private equity to the multifamily acquisition market.