Health Care REIT (HCN) PT Raised to $70 at Stifel Following 4Q Beat

Stifel raised its price target on Health Care REIT (NYSE: HCN) to $70.00 (from $69.00) while maintaining a Buy rating. Management revealed attractive initial 2017 FFO guidance of $4.15-4.25, which excludes investments beyond those disclosed to date.

Analyst Chad Vanacore commented, "Welltower reported FFO $1.10 per share matching our $1.10 estimate and beating consensus median of $1.09. FAD was $0.99, beat our estimate of $0.96 and consensus $0.95 per share. We are raising price target to $70/sh. Reiterate Buy rating."

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