BofA analyst Jeffrey Spector upgraded Ventas to Buy from Neutral with a price target of $53, up from $48. The upgrade reflects a view that the company’s “strong” core growth will flow to the bottom line in 2024 and 2025. the analyst tells investors in a research note. The firm expects an acceleration in Ventas’ external growth through acquisition volumes in 2024. Also, discussions with management about 2025 lease expirations clarified risk for 2025, says the firm.
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