BMO Capital analyst Juan Sanabri upgraded National Health Investors to Outperform from Market Perform with an unchanged price target of $67. The analyst sees the potential for multiple expansion and upside to earnings estimates driven primarily by SHOP and acquisitions. The company’s 2024 SHOP guidance only implies modest growth off Q4 levels, which is conservative, and acquisitions also represent an opportunity with $150M of “debt firepower” given the company’s low leverage, the analyst tells investors in a research note.
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