Welltower price target raised to $155 from $145 at Raymond James

Raymond James raised the firm’s price target on Welltower (WELL) to $155 from $145 and keeps a Strong Buy rating on the shares. Skilled nursing facilities and seniors housing operators continue to recover from the impact of the pandemic, while longer-term, increasing demand from the “Silver Tsunami” of aging demographics, a strong rate and affordability outlook, and declining new supply impact should drive strong performance throughout the decade, the analyst tells investors in a research note. Raymond James remains “enamored” with Welltower management’s strong operational and capital allocation acumen and believes they will continue to deliver despite high expectations for both net operating income growth and external growth activity.