Invitation Homes Is An 'Attractive 2024 Story,' Says This Bullish Analyst
Portfolio Pulse from Priya Nigam
Oppenheimer analyst Tyler Batory has upgraded Invitation Homes Inc (NYSE:INVH) from Perform to Outperform, setting a price target of $35. Batory believes that rent growth and occupancy will remain above pre-COVID-19 pandemic averages in 2024. He also noted that higher mortgage rates and limited inventory are tailwinds for the company. However, he acknowledged that Invitation Homes faced several operational expenditure headwinds, which should moderate next year.
October 30, 2023 | 7:16 pm
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Oppenheimer analyst Tyler Batory has upgraded Invitation Homes Inc (NYSE:INVH) from Perform to Outperform, setting a price target of $35. This could potentially lead to a positive impact on the company's stock in the short term.
The upgrade from Oppenheimer, a well-respected financial institution, could potentially lead to increased investor confidence in Invitation Homes. The set price target of $35 also indicates a positive outlook for the company's stock. However, the impact could be moderated by the operational expenditure headwinds mentioned by the analyst.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100