Scotiabank upgraded Healthcare Realty Trust (HR) to Outperform from Sector Perform with a price target of $20, up from $18. The firm expects Healthcare Realty’s valuation to expand as it returns to funds from operations growth by executing on its turnaround plan under new CEO Peter Scott. Healthcare Realty is a “compelling pure-play” medical office real estate investment trust with “top notch” assets and the company’s balance sheet is now being repaired, the analyst tells investors in a research note.
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