UPDATE: MLV & Co Reiterates On Campus Crest Communities On Multiple Challenges Ahead

In a report published Wednesday, MLV & Co analyst Ryan Meliker reiterated a Hold rating on

, but lowered the price target from $8.00 to $7.00. In the report, MLV & Co noted, “Following last week's announcement of a strategic shift of the company, the separation of the CEO and CFO and the acquisition of the remaining interest in the Copper Beech portfolio, we have updated our estimates and price target. While we believe these announcements were a big step in the right direction, we continue to believe that a new CEO without ties to CCG over the past four years, a looming dividend cut which could pressure the stock, several quarters of sound operational execution and several deleveraging transactions are all needed before the stock can really work. As such, we reiterate our HOLD-rating and lower our year-end 2015 price target to $7.” Campus Crest Communities closed on Tuesday at $7.20.