Mizuho Securities Upgrades Medical Properties Trust (MPW) to Buy
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Mizuho Securities analyst Omotayo Okusanya upgraded Medical Properties Trust (NYSE: MPW) from Neutral to Buy with a price target of $23.00.
The analyst comments "Post 2Q20 earnings, we are upgrading MPW to Buy from Neutral. The stock has underperformed Healthcare REIT peers over the past 30 days (-4.5% vs +3.4%) despite the improved acquisition outlook, solid rent collection from the hospital tenant base, stable regulatory outlook for the hospital sector and potential for earnings upside. MPW’s stock weakness is driven by the near-term equity overhang on the stock. Investors may well wait for an expected secondary offering as an attractive entry point. However, we are comfortable owning the stock at the currently attractive valuation given the recent sell-off and solid fundamental outlook We are raising estimates as well as our price target and upgrading to a Buy rating."
Shares of Medical Properties Trust closed at $18.38 yesterday.
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