RBC Capital analyst Frank Morgan raised the firm’s price target on Ensign Group to $108 from $102 and keeps an Outperform rating on the shares after its Q1 results last week. The company posted a solid start to the year with as Q1 beat and raise reflecting continued occupancy recovery, and its same-store portfolio is now within 130 bps of pre-COVID levels, the analyst tells investors in a research note. RBC adds that the price target increase reflects Ensign’s solid execution and higher peer enterprise multiples for the OpCo.
Published first on TheFly
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