UPDATE: BMO Capital Upgrades Welltower, Inc. (WELL) to Market Perform
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(Updated - June 25, 2021 7:45 AM EDT)
BMO Capital analyst John Kim upgraded Welltower, Inc. (NYSE: WELL) from Underperform to Market Perform with a price target of $90.00 (from $80.00).
The analyst comments "We upgrade WELL shares to Market Perform (target to $90). Although WELL trades at a premium, management is astutely utilizing its cost of capital executing on attractive external growth ($3.2B YTD) at a compelling basis, augmenting core growth that's enhanced by development with a solid balance sheet. While not inexpensive, WELL's multiple is working in its favor, as it's able to aggressively drive accretive external growth (e.g., Holiday ~3% earnings accretive). Amidst market dislocation, we see continued opportunities to drive the virtuous external growth circle with earnings upside from acquisition."
Shares of Welltower, Inc. closed at $83.46 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesBMO Capital, Earnings, Definitive Agreement
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