Brookdale Senior Living price target raised to $18 from $15.50 at BofA

BofA raised the firm’s price target on Brookdale Senior Living (BKD) to $18 from $15.50 and keeps a Buy rating on the shares. The tone of Brookdale’s investor day was “bullish” as the company expects to grow EBITDA mid-teens with upside from additional occupancy growth and pricing outpacing cost growth, the analyst tells investors after the event. The firm believes a multiple above the historical average is justified given the potential upside to its estimate and what it identifies as “a much higher real estate ownership.”