Mizuho Securities Remains Neutral on HCP, Inc. (HCP) - Cuts PT to $26

Mizuho Securities reiterated a Neutral rating on HCP (NYSE: HCP), and cut the price target to $26.00 (from $37.00). Mizuho believes that HCP is a sideways mover for now, with some possible volatility related to the sell-off on Wednesday. Mizuho analysts remain negatively-biased, despite a Neutral rating, and senses that HCP is listening more closely about how to take corrective action.

Analyst Richard Anderson commented, "While many factors influence our reduced estimates following HCP's 4Q15 print, this note focuses on HCRMC -- HCP's largest tenant at 24% of the portfolio. The bottom line is we believe HCP is a sideways mover for now, with some possible volatility related to the sell-off on Wednesday. However, we believe the stock has a chance to regain a pulse over the long-term if it takes the decisive steps needed to resolve an issue that has dogged the company since the 2011 purchase. Reiterate Neutral; Lowering PT to $26 from $37."

For an analyst ratings summary and ratings history on HCP click here. For more ratings news on HCP click here.

Shares of HCP closed at $28.33 yesterday.

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