Wells Fargo & Co. upgraded shares of manufactured housing community (MHC) owner Sun Communities, Inc. (NYSE:SUI) to an outperform rating from a market perform rating. Two analysts had previously cut their price target on Sun, but both now have issued an outperform rating for the stock, according to tickerreport.com. In total, one analyst has issued a hold rating and four have issued a buy rating resulting in a consensus price target of $48.25. Shares of Sun closed down, -2.22 percent Wed. Jan 8 at 42.74. Sun has a one-year low of $39.53 and a one-year high of $57.78. As MHProNews posted earlier today, Sun Communities borrowed $141.5 million from Bank of America, securitized by MHCs.
(Photo credit: Sun Communities, Inc.)