Evercore ISI Group Downgrades AvalonBay Communities to In-Line, Announces $202 Price Target
Portfolio Pulse from Benzinga Newsdesk
Evercore ISI Group analyst Steve Sakwa downgraded AvalonBay Communities (AVB) from Outperform to In-Line and set a price target of $202. This adjustment reflects a change in the analyst's outlook on the stock, potentially due to market conditions, company performance, or sector challenges.
May 13, 2024 | 10:57 am
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AvalonBay Communities was downgraded by Evercore ISI Group from Outperform to In-Line with a new price target of $202. This suggests a more cautious view on the stock's future performance.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic outlook on the company's future earnings potential and stock performance. The setting of a specific price target provides a benchmark for investors, potentially indicating limited upside from current levels.
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