CareTrust REIT price target raised to $39 from $35 at Raymond James

Raymond James analyst Jonathan Hughes raised the firm’s price target on CareTrust REIT (CTRE) to $39 from $35 and keeps a Strong Buy rating on the shares. The recession-resilient and defensive, needs-driven nature of healthcare is increasingly top of mind in the current uncertain environment, the analyst tells investors in a research note. The firm notes that REITs with smaller asset bases, strong balance sheets, plentiful external growth opportunities, and favorable costs of capital, much like CareTrust, can be powerful recipes for robust earnings, net asset value, dividend growth, and outperformance.