Morgan Keegan Raising Price Target On Brookdale Senior Living (BKD)

Morgan Keegan is raising its price target on shares of Brookdale Senior Living Inc.

to $30 from $24, and is keeping its Outperform rating on shares. In a note to clients, Morgan Keegan writes, "We are raising our 2011 CFFO estimate from $2.28 to $2.38. Management's guidance is a range of $2.30-$2.40. We are raising our 2012 CFFO estimate from $2.49 to $2.66. We are raising the target multiple for our P/CFFO based target price from 12x to 14x to reflect accelerated CFFO growth. Accordingly, we are raising our price target from $24 to $30." Shares of BKD lost 41 cents yesterday to close at $23.45.