Healthpeak Properties resumed with Neutral from Overweight at JPMorgan

JPMorgan downgraded Healthpeak Properties to Neutral from Overweight with a price target of $19, down from $25, after resuming coverage following a period of restriction. The company has significant value creation opportunity in its development business and the stock screens as cheap, but its lab business continues to be muted and “valuation in and of itself has not translated into a catalyst,” the analyst tells investors in a research note.