BofA upgrades Veris Residential to Buy and downgrades Sun Communities to Underperform

BofA Securities analyst Joshua Dennerlein upgraded Veris Residential, Inc. (VRE) to a Buy rating and raised its price target to $23 from $20. He highlighted VRE's strong internal growth potential and effective management strategies, projecting significant revenue growth. In contrast, Dennerlein downgraded Sun Communities, Inc. (SUI) to Underperform and lowered its price target to $114 from $147. He cited governance concerns and management issues as reasons for the downgrade, noting that SUI's recent earnings guidance did not meet expectations. As of the latest update, VRE shares rose 1.02% to $18.28, while SUI shares fell 2.59% to $123.83.