BofA raised the firm’s price target on Welltower to $190 from $129 and keeps a Buy rating on the shares. The firm’s raised target reflects a roll forward of its model to 2029 from 2028), higher per share earnings, and a higher multiple given accelerating cash flow growth, the analyst tells investors. The firm now applies a 31-times multiple to its 2029 AFFO estimate of $7.50, the analyst noted.
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