UPDATE: Deutsche Bank Raises PT to $45 on American Campus Communities; Q1 Beat

Deutsche Bank raises its price target from $41 to $45 American Campus Communities

following a Q1 that exceeded estimates, but maintains share rating at Hold. Deutsche Bank notes, "ACC's 1Q results came in a bit ahead of expectations, though the upside to our est was driven by somewhat lower-quality items. Core growth was solid but slowed a bit as ACC comes up against tougher comps which isn't a surprise. Overall, it was a good, steady Q, and given the stock's modest underperformance YTD (+7.8% vs +10.3% Apt sec avg), we'd expect the shares to trade at least in line with the group." ACC closed at $44.88 on Monday.