Citi upgraded Sabra Health Care to Buy from Neutral with a price target of $20, up from $17. The outlook for skilled nursing continues to improve and occupancy and rent coverage should increase further as labor pressures ease and operators continue to effectively control costs, the analyst tells investors in a research note. The firm says favorable reimbursement rate increases from both Medicare and Medicaid should help support the industry and Sabra’s portfolio and lead to improved coverage levels.
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