RBC
Globe says Sienna Senior maintained at "sector perform"
2023-11-21 08:05 ET - In the News
The Globe and Mail reports in its Tuesday edition that RBC Capital Markets analyst Pammi Bir is keeping his "sector perform" call on Sienna Senior Living intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Bir cut his share target back by a loonie to $13. Analysts on average target the shares at $13.17. Mr. Bir says in a note: "From our perspective, Sienna's Q3 results reflect the continued stabilization of the operating environment in both LTC and retirement. Indeed, we're particularly encouraged by progress on cost controls, with the material reduction in agency staffing costs. Looking ahead, we believe the overall portfolio remains in good position to register strong organic growth over the next 12 months. As well, we expect the development pipeline to provide incremental upside in earnings and value over the mid- to longer-term horizon." The Globe reported on Nov. 17, 2022, and Feb. 28, 2023, that Mr. Bir continued to rate Sienna Senior "sector perform." The shares could then be had for $11.37 and $11.29. The Globe reported on Oct. 25, 2023, that National Bank Financial analyst Tal Woolley had reaffirmed his "outperform" recommendation for Sienna Senior. It was then worth $10.37.