Wells Fargo analyst John Kilichowski initiated coverage of NNN Reit with an Equal Weight rating with a price target of $50, up from $47. The entire Healthcare sector has worked in 2024 as it benefits from the secular tailwinds of the often-mentioned acceleration of retirement age individuals, occupancy recovery from COVID, and minimal-to-negative supply growth as development costs and bed moratoriums impede new stock, the firm says. Given the re-rating the space has seen and significant premiums to NAV, Wells sees growth-adjusted multiples as the best method of picking Healthcare stocks today.
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Read More on NNN:
- NNN Reit price target raised to $48 from $47 at Raymond James
- NNN Reit price target raised to $49 from $42.50 at B. Riley
- NNN Reit sees 2024 AFFO $3.31-$3.37, consensus $3.35
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