Welltower price target raised to $116 from $110 at Scotiabank

Scotiabank raised the firm’s price target on Welltower to $116 from $110 and keeps an Outperform rating on the shares. The supply and demand imbalance across the U.S. Seniors Housing industry should support a strong occupancy runway for years to come in the U.S. Healthcare REITs sector, the analyst tells investors. The firm is raising its price targets to reflect a recent move higher in the sector’s multiple and expects Welltower to continue to trade at the high end of 5-year historical multiple spreads.