KeyBanc raised the firm’s price target on Welltower (WELL) to $240 from $210 and keeps an Overweight rating on the shares. The firm continues to view Welltower’s platform and execution as among the best positioned to capitalize on secular demand trends within the private pay SHOP segment. Aging demographics and limited new supply, coupled with management’s intense focus on value-creation through a data-driven approach to operations and investments, position Welltower to drive double-digit internal and per-share earnings growth in the coming years, KeyBanc adds.
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