Goldman Sachs Starts Brookdale Senior Living (BKD) at Buy
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Goldman Sachs initiated coverage on Brookdale Senior Living (NYSE: BKD) with a Buy rating and a price target of $44.00.
Analyst Brian Zimmerman said, "We initiate coverage of Brookdale Senior Living Inc. (BKD) with a Buy rating and 12-month price target of $44 as we expect BKD to benefit from both secular and cyclical tailwinds leading to better occupancy rates and improved pricing. The key reasons for our Buy rating are: (1) upside to management accretion guidance in our 2016 pro-forma estimates that include Emeritus Corporation (ESC), (2) persistent industry-wide supply-demand imbalance, (3) underappreciated sensitivity to occupancy rates from a modest increase in penetration, and (4) attractive position in growing markets from our state level model."
Shares of Brookdale Senior Living closed at $34.14 yesterday.
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