RBC Capital Downgrades Welltower to Sector Perform, Raises Price Target to $97
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Michael Carroll has downgraded Welltower (NYSE:WELL) from Outperform to Sector Perform while increasing the price target from $92 to $97.
November 28, 2023 | 10:28 am
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NEUTRAL IMPACT
Welltower was downgraded by RBC Capital from Outperform to Sector Perform, although the price target was raised from $92 to $97.
The downgrade to Sector Perform suggests that RBC Capital sees Welltower as having limited upside potential compared to its peers, which could temper investor enthusiasm. However, the increase in the price target to $97 indicates a belief in some continued positive performance, which may balance out the negative impact of the downgrade. The net effect on the stock price is likely to be neutral in the short term as the market digests both pieces of information.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100