Stocks
American Homes 4 Rent Upgraded by JPMorgan Chase & Co. to $38.00
American Homes 4 Rent (NYSE:AMH) has received an upgraded price target from JPMorgan Chase & Co. The investment bank now forecasts a potential upside of 11.29% from the stock's previous close.
The upgrade comes after the company posted better-than-expected quarterly earnings, with $0.31 per share beating analyst estimates by $0.13. Revenue for the quarter also rose by 2.8%, reaching $470.10 million.
This upgrade marks a positive development for American Homes 4 Rent, which has a Moderate Buy rating among analysts and a consensus target price of $36.83. The company's stock has been trading up 1.4% on Wednesday, hitting a price of $34.15 per share.