UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Ventas on Long-Term Value

In a report published Friday, Jefferies reiterated its Buy rating on Ventas (NYSE: VTR), and raised its price target from $72.00 to $78.00.Jefferies noted, “Despite the ~13% return since October, we still see long-term value in VTR, given: 1) a high quality portfolio heavily weighted towards private-pay assets, 2) a strong balance sheet with an attractive cost of capital, and 3) a seasoned management team with significant deal experience, positioning VTR for solid long-term growth. As a result, VTR remains one of our top healthcare REIT picks. Raising PT to $78 and maintain our Buy rating.”Ventas closed on Thursday at $70.78.