UPDATE: JP Morgan Raises PT to $29 on Healthcare Realty Trust on Model Update

JP Morgan maintained Healthcare Realty Trust

with an Overweight rating and raised the price target from $27.00 to $29.00. JP Morgan noted, "Post 4Q earnings we are updating our model and estimates. As a result, we are maintaining our 2013 FFO estimate of $1.36. In addition, we are increasing our 2014 FFO estimate by $0.01, to $1.51. Finally, we are increasing our 2013 YE price target by $2, to $29/share. … We see the stock as trading at attractive implied cap rate levels relative to other health care REITs and the overall REIT group. Additionally, we think 2013-15 could be very good years for earnings momentum as development leasing finally should begin to drive the bottom line." Healthcare Realty Trust closed at $27.13 on Wednesday.