BofA analyst Joshua Dennerlein upgraded Medical Properties Trust to Buy from Neutral with a price target of $16, up from $13. The stock’s current valuation more than offsets any risk inherent in the company’s portfolio, the analyst tells investors in a research note. Dennerlein also sees positive catalysts coming up ahead, including its Steward ABL being permanently extended in December as well as improving fundamentals from payor rate hikes, better labor markets, and slowing inflation.
Published first on TheFly
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