Healthpeak upgraded to Buy at Jefferies with stability prioritized

As previously reported, Jefferies analyst Jonathan Petersen upgraded Healthpeak to Buy from Hold with a price target of $29, up from $23. He is constructive on Healthcare in FY23 as he prefers non-cyclical property types this year given his view that we are likely to enter a recession, Petersen tells investors. In such an environment, he prefers to prioritize stability and is positive on Healthpeak as he expects cash flows to remain resilient and he forecasts peer-leading FFO per share growth through FY25, the analyst added.