Jefferies Cuts Price Target on Omega Healthcare Investors (OHI) Following Investor Day
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Jefferies maintained a Buy rating on Omega Healthcare Investors (NYSE: OHI), and cut the price target to $35.00 (from $40.00), following the company's investor day.
Analyst Omotayo Okusanya commented, "We attended OHI's Investor Day where four of OHI's key operators discussed the current environment in the Skilled Nursing Facility (SNF) space. Overall, we believe that ongoing changes in reimbursement will continue to put pressure on rent coverage at OHI's tenants. We lower our PT to $35 (from $40) but reiterate our BUY given low risk of rent concessions/defaults."
Shares of Omega Healthcare Investors closed at $28.39 yesterday.
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