Raymond James Believes Canadian Apartment (TSX: CAR.UN) Still Has Room to Grow

By Austin Angelo

Today, an analyst has provided a rating update for Canadian Apartment (CAR.UNResearch Report). Analyst Johann Rodrigues from Raymond James reiterated a Buy rating, with a C$52 price target.

According to TipRanks.com, Rodrigues is a 4-star analyst with an average return of 5.6% and a 70.2% success rate. Rodrigues covers the Financial sector, focusing on stocks such as Choice Properties Real Estate Investment Trust, RioCan Real Estate Investment Trust, and Artis Real Estate Investment Trust.

Canadian Apartment has an analyst consensus of Moderate Buy, with a price target consensus of C$53.58, which is a 4.6% upside from current levels. In a report released yesterday, Echelon Wealth Partners also reiterated a Buy rating on the stock with a C$54.50 price target.

.

The company has a one-year high of C$52.10 and a one-year low of C$43.03. Currently, Canadian Apartment has an average volume of 268.4K.

Canadian Apartment Properties Real Estate Investment Trust owns and operates a portfolio of multi-unit residential rental properties, including apartments, townhomes and manufactured home communities located in and near major urban centers across Canada.

The company’s shares closed last Thursday at C$51.60, close to its 52-week high of C$52.10.