UPDATE: Deutsche Bank Raises PT on Capital Senior Living on Strong Q4 Results

In a report published Friday, Deutsche Bank reiterated its Buy rating on Capital Senior Living Corporation CSU, and raised its price target from $25.00 to $28.00. Deutsche Bank noted, “CSU turned in very strong Q4 results. Q4 S-C revs +4% and organic NOI +6%. Adj. CFFO/sh bested our est by 18% due to good organic trends and contributions from M&A. Same-community (S-C) occupancy jumped 180 bps yoy, driven esp. by gains in independent living. S-C rate growth was +2.1% but we believe it is near an +ve inflection point. We believe there is good momentum for accelerating S-C fundamentals in 2013 given occupancy, pricing and expense growth trends. When organic growth is coupled with a steady stream of M&A, we believe CFFO/sh can grow +35%.” Capital Senior Living Corporation closed on Thursday at $26.09.