RBC Capital analyst Pammi Bir upgraded Extendicare (EXETF) to Outperform from Sector Perform with a price target of C$25, up from C$15. The firm is citing the announced acquisition of CBI Home Health for $584M and Q3 results that were “well ahead” of its expectation, the analyst tells investors in a research note. CBI significantly improves Extendicare’s field position in homecare, while driving material FFO per share accretion, the firm added, noting however that a successful integration is paramount.
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