Brookdale Senior Living rises after RBC upgrades to "outperform"

Brookdale Senior Living

17/11/2023 13:19

** Shares of retirement home operator Brookdale Senior
Living  BKD.N  rises 3.8% to $4.69 in premarket trading  
    ** RBC upgrades stock to "outperform" from "sector perform";
raises PT to $9 from $7
    ** Co has an under-appreciated pathway to margin expansion
given strong RevPAR growth and moderating operating expense
growth - Brokerage
    ** RBC analysts also note that demand for senior housing
continues to grow, with the U.S adding 1 mln seniors a year till
2030
    ** Strong home values and rising annual rent will help
margins expand for BKD - RBC
    ** Stock is up 65.6% YTD

 (Reporting by Pranav Kashyap in Bengaluru)