Brookdale Senior Living initiated with an Equal Weight at Barclays

Barclays analyst Andrew Mok initiated coverage of Brookdale Senior Living (BKD) with an Equal Weight rating and $7 price target The company offers exposure to an “attractive” senior housing market that should benefit from slowing inventory growth and solid demand as baby boomers age, the analyst tells investors in a research note. However, the firm says the first baby boomers don’t turn 80 until next year and the average move-in age for assisted living facilities and memory care is 84, meaning the acceleration in demand is still “several years away.” For now, it looks for Brookdale to optimize its portfolio, improve cash flow, and reduce leverage.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue