BMO Capital analyst Juan Sanabria upgraded CareTrust REIT to Outperform from Market Perform with a price target of $24, up from $23.50. The analyst has turned more positive on skilled nursing citing a more constructive reimbursement environment. The firm also sees limited risks over the near-to-medium term from pending staffing regulation. CareTrust has a “solid cost of capital with a growing pipeline of opportunities,” the analyst tells investors in a research note.
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