Medical Properties Trust (MPW) PT Raised to $5 at Truist Securities

Truist Securities analyst Michael Lewis raised the price target on Medical Properties Trust (NYSE: MPW) to $5.00 (from $4.50) while maintaining a Hold rating.

The analyst commented: "We are lowering our FFO estimates, mostly on more conservative assumptions related to Steward Health Care (private), and disposition totals & timing. We are raising our PT to $5 from $4.50, as described below, but note high uncertainty with Steward’s bankruptcy in process, resulting in substantial rent on cash-based accounting and many properties likely to be sold or transitioned to other operators. We also expect de-levering/refinancing activity to negatively impact MPW’s earnings over the next several years. The stock may appear inexpensive, but we think it rightly reflects high volatility and risk."

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