UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Capital Senior Living Corporation
In a report published Friday, Deutsche Bank reiterated its Buy rating on Capital Senior Living Corporation (NYSE: CSU), and raised its price target from $22.00 to $25.00.
Deutsche Bank noted, “Q3 results strong: operating momentum continues to build. CSU reported very good Q3 results underpinned by strong occupancy gains and pricing growth. Mgmt was very upbeat about sequential occupancy growth into Q4, highlighting Sept as a record month for the company. Q3 provided further reinforcement to our investment case: CSU's smaller size and consistent M&A activity is driving higher growth vs. peers, and sequential occupancy gains are encouraging. We are raising estimates to reflect recent acquisitions, which are nicely accretive to CFFO, and we are raising our price target to $25 (from $22). Reiterate Buy / Top Small Cap Pick in Health Care Providers Universe due to growth profile and lack of gov't reimbursement risk.”
Capital Senior Living Corporation closed on Thursday at $16.84.
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