UPDATE: Morgan Keegan Upgrades American Campus Communities to Outperform

Morgan Keegan has upgraded American Campus Communities

from Market Perform to Outperform and has raised the price target from $38 to $48 in a research report published today. In the report, Morgan Keenan writes, "We are upgrading ACC shares from a Market Perform to an Outperform rating. We believe the student housing sector is poised for a multi-year growth cycle, driven by stable internal growth, and significant external growth opportunities." Shares of American Campus Communities are trading at $41.73, down 0.48% from yesterday's close.