Why Front Yard Residential Zoomed Nearly 16% Higher Today
Single-family residential real estate investment trust (REIT) Front Yard Residential (NYSE: RESI) got a significant boost from the return of Credit Suisse analyst Douglas Harter. The analyst reinstated his coverage on the stock with an outperform (buy) recommendation and a target price of $11 per share -- 57% higher than the current level.
Image source: Getty Images.
Credit Suisse abandoned coverage of Front Yard Residential earlier this year, after REIT agreed to be bought out, in a deal valued at $2.3 billion, by privately held peer Amherst Residential.
Source Fool.com
