Jefferies initiates Sun Communities coverage with 'buy' rating

Sun Communities

08/04/2025 18:20

** Jefferies initiates coverage of Sun Communities SUI.N with "buy" rating, saying the sale of Safe Harbor Marina unit will push focus on its core manufactured housing business

** Brokerage says cost restructuring efforts, leadership changes, and expected sale of SUI marina business to decrease its financial leverage

** Brokerage sets PT at $150, a ~25.8% upside on stock's last close

** Six of 12 brokerages rate the stock "buy" or higher, five "hold" and one "sell"; their median PT is $137 - LSEG data

** Including session's moves, SUI stock down ~3.5% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)

 ((Prakhar.srivastava2@thomsonreuters.com))