Citi upgraded Omega Healthcare to Buy from Neutral with a price target of $35, up from $32. The outlook for skilled nursing continues to improve, and Citi expects occupancy and rent coverage to increase further as labor pressures ease and operator continue to effectively control costs, the analyst tells investors in a research note. The firm says Tenant health issues are less of a concern now, and Omega has shown it is able to reach resolutions with troubled operators either through restructurings or asset dispositions.
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