UDR price target raised to $49 from $48 at Scotiabank

Scotiabank raised the firm’s price target on UDR (UDR) to $49 from $48 and keeps a Sector Perform rating on the shares. Following Q4 results for U.S. Multifamily REITs, the firm sees broad optimism for accelerating H2 blended rate growth, driven by softening supply pressures and stable demand outlook, the analyst tells investors. Same-store growth was largely in-line and executives are hopeful for an improving transaction market through the year, the firm adds.