Welltower initiated with an Overweight at Wells Fargo

Wells Fargo analyst Connor Siversky initiated coverage of Welltower with an Overweight rating and $85 price target. The combination of a high quality platform and best growth potential among Healthcare REITs makes for an attractive buying opportunity, the analyst tells investors in a research note. Welltower’s Senior Housing portfolio is well positioned to capture demand from favorable demographics, and the firm thinks Welltower can focus on optimization efforts across its portfolio segments having managed tenant credit issues earlier than peers.