Welltower price target raised to $92 from $87 at RBC Capital

RBC Capital analyst Michael Carroll raised the firm’s price target on Welltower to $92 from $87 and keeps an Outperform rating on the shares. The firm is updating its estimates after the company’s Q2 earnings beat last month, stating that it is encouraged by the organic and external growth trajectories, the analyst tells investors in a research note. RBC adds that Welltower’s Seniors Housing Operating portfolio, or SHOP, continues to recover from the pandemic, and due to strong fundamentals and the company’s platform investments, it offers one of the strongest growth outlooks over the next 3-5 years.