Wells Fargo upgraded Ventas to Overweight from Equal Weight with a price target of $71, up from $61, following analyst coverage transfer. The firm says Ventas’s PEGY looks more attractive in all Wells’ scenarios. Ventas’ resolution with Kindred resulted in a 27% rent cut that met the firm’s expectations and removed a key overhang on the stock. Further, Wells believes Ventas has more low-hanging fruit available to drive SHOP growth in the medium-term.
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Read More on VTR:
- Ventas reaches agreement with Kindred, ScionHealth
- Ventas price target raised to $70 from $64 at Evercore ISI
- Ventas reaches agreements with Kindred Healthcare, ScionHealth
- Ventas price target raised to $71 from $64 at Wedbush
- Ventas price target raised to $64 from $61 at Evercore ISI