Welltower price target lowered to $240 from $242 at BofA

BofA analyst Jeffrey Spector lowered the firm’s price target on Welltower (WELL) to $240 from $242 and keeps a Buy rating on the shares. After updating models for Q1 earnings, the firm is lowering its price target to reflect the addition of a spread applied to Welltower’s discount rate to more effectively show cost of debt, the analyst tells investors.