UPDATE: Goldman Sachs Initiates Medical Properties Trust at Buy on Valuation
In a report published by Goldman Sachs, analyst Andrew Rosivach initiated coverage on Medical Properties Trust (NYSE: MPW) with a Buy rating and a 12-month $17 price target.
Goldman Sachs reported that, “We are initiating coverage of Medical Properties Trust with a Buy rating, relative to our Attractive healthcare coverage view, and a 12-month price target of $17 (17% upside including dividends). We believe a wide spread between acquisition yields and corporate cost of capital and a smaller current earnings base will support robust earnings growth despite limited contractual rent growth. We estimate that MPW's six-year AFFO growth of 83% will be 10th highest in all of our coverage (31 names total). Please note that we anticipate MPW's non-cash FFO growth rate will be roughly equal to its cash AFFO growth rate as the company rapidly increases straight-line rents from acquisitions.”
Shares of Medical Properties Trust closed at $15.24 on Wednesday.
Latest Ratings for MPW
|Feb 2015||JP Morgan||Maintains||Neutral|
|Jan 2015||JMP Securities||Maintains||Market Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.