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Camden Property Trust Gets Double Upgrade: Analyst Sees Potential Earnings Upside Amid Fed Rate Cuts
Camden Property Trust (NYSE:CPT) shares are trading slightly higher on Monday. BofA Securities analyst Joshua Dennerlein double upgraded the stock to Buy from Underperform and raised the price target to $147 from $111.
This month, the company reported second-quarter Core FFO of $1.71, surpassing the $1.67 estimate, and sales of $387.15 million, exceeding the $385.15 million estimate.
The analyst writes that a recent portfolio trade in Sunbelt led to a reassessment of their view on Sunbelt-focused Camden Property.
Consequently, the ...