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UPDATE: Jefferies Upgrades Mid-America Apartment Communities As Multiple Expansion Is Warranted

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In a report published Monday, Jefferies analyst Omotayo Okusanya upgraded the rating on Mid-America Apartment Communities Inc (NYSE: MAA) from Hold to Buy, and raised the price target from $71.00 to $88.00.

In the report, Jefferies noted, “Our upgrade is based on a clearer path of solid FFO growth now that we are past the bulk of the CLP integration. We think MAA will benefit from multiple expansion in 2015 and trade at a smaller discount to its peers, based on the improvement in its overall portfolio and growth prospects via capital recycling and redevelopment. For more details see our 2015 REIT Outlook also published today.”

Mid-America Apartment Communities closed on Friday at $78.83.

Latest Ratings for MAA

DateFirmActionFromTo
Nov 2019Initiates Coverage OnNeutral
Nov 2019MaintainsNeutral
Oct 2019MaintainsOverweight

View More Analyst Ratings for MAA
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Posted-In: Jefferies Omotayo OkusanyaAnalyst Color Upgrades Analyst Ratings

 

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