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Bank of America Securities Sticks to Their Buy Rating for AvalonBay (AVB)

Tipranks - Tipranks - Wed Jul 1, 1:42PM CDT

Bank of America Securities analyst Jana Galan reiterated a Buy rating on AvalonBay today and set a price target of $213.00.

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According to TipRanks, Galan is an analyst with an average return of -1.9% and a 55.36% success rate. Galan covers the Real Estate sector, focusing on stocks such as AvalonBay, Equity Residential, and Sun Communities.

In addition to Bank of America Securities, AvalonBay also received a Buy from Truist Financial’s Michael Lewis in a report issued on June 22. However, on June 10, Mizuho Securities maintained a Hold rating on AvalonBay (NYSE: AVB).

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Based on AvalonBay’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $770.28 million and a net profit of $325.73 million. In comparison, last year the company earned a revenue of $745.88 million and had a net profit of $236.6 million

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