RBC Capital initiated coverage of Sonida Senior Living (SNDA) with an Outperform rating and $39 price target which implies 24% upside. Following the acquisition of SNL Healthcare Properties, Sonida is the eighth largest U.S. senior housing owner, the analyst tells investors in a research note. The firm views the deal as “transformative,” saying it adds significant scale, earnings accretion, and reduced leverage. RBC says Sonida should see strong demand from aging demographics against a supply constrained backdrop.
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