Omega Healthcare upgraded to Buy from Neutral at Mizuho

Mizuho upgraded Omega Healthcare to Buy from Neutral with a price target of $35, up from $31. The analyst says several industry and company-specific positive factors warrant a higher multiple for the shares. These include a more benign regulatory environment post the Centers for Medicare and Medicaid Services minimum staffing standards, and Omega’s “several levers” to drive upside to fiscal 2024 cash flow, the analyst tells investors in a research note. This, combined with an 8% dividend yield and low leverage, is attractive amid a still-uncertain macro environment, contends Mizuho.