UPDATE: Stifel Nicolaus Raises PT to $20 on Sabra Health Care REIT on Enhanced Acquisition Visibility
Stifel Nicolaus reiterated its Buy rating on Sabra Health Care REIT (NASDAQ: SBRA) and raised its price target from $17 to $20.
Stifel Nicolaus commented, "We are raising our price target for Sabra Health Care REIT from $17 to $20 as we expect accretive investment activity to ramp up given its targets' success in restoring margins affected by last year's Medicare rate cuts. We believe that the operators of skilled nursing facilities (SNFs) have mitigated last October's 11.1% Medicare rate cut and are now in a position to monetize real estate assets. An uptick in accretive acquisitions over the pace of the first half of the year would enable Sabra to sustain above-average growth."
Sabra Health Care REIT closed at $17.89 on Friday.
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