Mizuho raised the firm’s price target on Welltower to $98 from $90 and keeps a Buy rating on the shares. Despite valuations screening somewhat expensive, healthcare real estate investment trusts have several positive drivers heading into 2024, including, fundamental strength – specifically pricing power, inflection in sentiment towards certain segments, growing external growth opportunities, and a supportive macro environment, the analyst tells investors in a research note. Skilled nursing is the firm’s preferred sub-sector followed closely by senior housing. Omega Healthcare Investors (OHI) and Welltower (WELL) remain Mizuho’s top picks, and it added Ventas (VTR) as a top pick as well.
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Read More on WELL:
- Welltower upgraded to Overweight from Neutral at JPMorgan
- Welltower downgraded to Sector Perform from Outperform at RBC Capital
- Welltower price target raised to $89 from $86 at Evercore ISI
- Welltower upgraded to Strong Buy from Outperform at Raymond James
- Welltower 17.5M share Spot Secondary priced at $85.95