Scotiabank raised the firm’s price target on Welltower (WELL) to $165 from $144 and keeps an Outperform rating on the shares. The firm is providing updated thoughts on the recent NYC Office sale comparables and commercial mortgage-backed securities, CMBS, issuance, which has led to changes to the ratings of the U.S. Real Estate & REITs in its coverage, the analyst tells investors.
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