Truist Securities Downgrades AvalonBay Communities to Hold, Raises Price Target to $203
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analyst Michael Lewis has downgraded AvalonBay Communities (NYSE:AVB) from Buy to Hold while slightly increasing the price target from $202 to $203.
January 16, 2024 | 5:48 pm
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AvalonBay Communities was downgraded by Truist Securities from Buy to Hold, although the price target was raised from $202 to $203.
The downgrade to Hold suggests that Truist Securities sees limited upside potential or increased risk in AVB's stock, which could lead to a neutral or slightly negative short-term impact on the stock price. However, the increase in the price target to $203 indicates a slight positive sentiment on the stock's valuation, which may counterbalance the downgrade's effect. The mixed signals could result in a neutral short-term impact as the market digests both pieces of information.
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