UPDATE: J.P. Morgan Raises Price Target On UDR To $27

According to J.P. Morgan, UDR UDR price target is raised to $27. J.P. Morgan said that it is updating its model and estimates post 2Q earnings. “We are raising our 2011 and AFFO estimate by a penny to $1.03 and maintaining our 2012 AFFO estimate of $1.16/share. Our estimates incorporate $1,050/unit in annual turn costs.” UDR closed yesterday at $25.04.