JMP Securities analyst Aaron Hecht downgraded Sabra Health Care to Market Perform from Outperform without a price target. A return to normalcy from COVID "remains elusive" and rising capital costs should negatively impact the stock’s valuation, Hecht tells investors in a research note. The analyst believes investors need improved transparency on future operator cashflows and rent coverage before valuations across the space will materially improve. He sees Sabra as fairly valued at current levels.
Published first on TheFly
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