Jefferies initiates Sun Communities coverage with 'buy' rating

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