UPDATE: Bank of America Raises PO to $40 on Sun Communities on FFO Guidance

Bank of America maintained Sun Communities

with an Underperform rating and raised the price objective from $39.00 to $40.00. Bank of America said, "Including the recent acquisitions, SUI introduced 2013 FFO guidance of $3.45-$3.55 compared to consensus estimates of $3.41. Our $3.31 estimate did not include the RV acquisitions. SUI will provide more detailed guidance with 4Q12 results which will be issued 2/21/13 before the market open. … We are raising our PO to $40 from $39 based on our updated 12 month forward NAV." Sun Communities closed at $44.21 on Tuesday.