UPDATE: Jefferies Raises PT on Medical Properties Trust Following REIT Day
In a report published Wednesday, Jefferies analyst Omotayo Okusanya reiterated a Hold rating on Medical Properties Trust (NYSE: MPW), and raised the price target from $13.00 to $14.50.
In the report, Okusanya noted, “Management teams expressed confidence in the ability to grow internally as well as externally via accretive acquisitions and development. The outlook for Medicare and Medicaid reimbursement seems benign over the next 12 months which is a positive. In our view, the biggest challenge is valuation, although several names seem set for better than expected FFO/sh growth in 2013.”
Medical Properties Trust closed on Tuesday at $16.24.
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