Morgan Stanley raised its price target on Mid-America Apartment Communities to $155 from $150, reiterating an Overweight rating. Analyst Adam Kramer said apartment REITs started to work but the rally faded, and he believes the setup is even better than pre-rally following the recent pullback. Earlier, Scotiabank raised its price goal on MAA to $129 from $120 while maintaining an Underperform rating, citing less attractive REIT valuations after the sector's strong start to the year.
Mid-America Apartment Communities IncMorgan Stanley raised price target to $155 and reiterated Overweight rating, citing improved setup after pullback.