UPDATE: Jefferies Upgrades Sabra Health Care REIT on Attractive Entry Point
In a report published Wednesday, Jefferies analyst Omotayo Okusanya upgraded the rating on Sabra Health Care REIT (NASDAQ: SBRA) from Hold to Buy, but lowered the price target from $27.00 to $26.00.
In the report, Jefferies noted, “We had previously downgraded SBRA stock from Buy to Hold back in April on concerns of valuation following a 250% run-up in the stock since 2011. However, with the stock now down over 26% since May, shares appear oversold, offering an attractive entry point. While a rising cost of capital and recent lack of deal flow are concerns, recent pipeline agreements suggest new transactions are imminent. Upgrade to Buy but lower PT to $26.”
Sabra Health Care REIT closed on Tuesday at $22.49.
Latest Ratings for SBRA
|Jun 2015||JMP Securities||Maintains||Market Underperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.