Omega Healthcare price target lowered to $34 from $35 at Mizuho

Mizuho analyst Vikram Malhotra lowered the firm’s price target on Omega Healthcare to $34 from $35 and keeps a Buy rating on the shares. Despite valuations screening somewhat expensive, healthcare real estate investment trusts have several positive drivers heading into 2024, including, fundamental strength – specifically pricing power, inflection in sentiment towards certain segments, growing external growth opportunities, and a supportive macro environment, the analyst tells investors in a research note. Skilled nursing is the firm’s preferred sub-sector followed closely by senior housing. Omega Healthcare Investors (OHI) and Welltower (WELL) remain Mizuho’s top picks, and it added Ventas (VTR) as a top pick as well.