Scotiabank analyst Nicholas Yulico raised the firm’s price target on Welltower (WELL) to $142 from $133 and keeps an Outperform rating on the shares. Following a strong Q3 stock performance, the U.S. REIT market has retreated as fears of inflation pushed the 10-year Treasury bond yield higher, the analyst tells investors. The firm believes REITS look historically expensive compared to the real yield in the economy, and Scotiabank remains selective.
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