Why Welltower Stock Topped the Market on Thursday
An analyst upgraded his recommendation on the specialty REIT.
Overview
Investors owning Welltower (NYSE: WELL) were doing relatively well on Thursday. Shares of the healthcare-focused real estate investment trust (REIT) received an upgrade from an analyst who tracks its fortunes, making the stock more attractive. The company's shares bumped 1.6% higher on a day when the benchmark S&P 500 index essentially flatlined.
Before market open that day, Michael Mueller of JPMorgan Chase's J.P. Morgan changed his rating on Welltower to overweight (read: buy) from his previous neutral. He also set a price target of $260 per share, which is 11% higher than Thursday's closing price.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.