UPDATE: Bank of America Raises PO to $40 on Sun Communities on FFO Guidance
Bank of America maintained Sun Communities (NYSE: SUI) 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.
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