UPDATE: Stifel Nicolaus Raises PT to $31 on Brookdale Senior Living on Strengthening Fundamentals
Stifel Nicolaus maintained Brookdale Senior Living (NYSE: BKD) with a Buy rating and raised the price target from $30.00 to $31.00.
Stifel Nicolaus commented, "We Like Brookdale's Core Senior Housing Business as it benefits from low levels of seniors housing construction, demographic growth and bottoming for sale housing market. Senior housing results are more than offsetting reimbursement pressures at the ancillary services therapy / home health segment that is just 5.5% of operating income. Continued occupancy and rate growth with modest inflation pressures provide the basis for 5%+ annual property NOI growth annually the next few years, increased real estate value and increased company cash flows."
Brookdale Senior Living closed at $28.48 on Tuesday.
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