Big analyst upgrade Scotia Capital analyst Himanshu Gupta upgraded Sienna Senior Living Inc. (
) to “sector outperform” from “sector perform” on Friday, touting a bullish view stemming from a “big” first-quarter earnings beat and a raise to its guidance for its LTC segment.
“SIA stock is already up 20 per cent year-to-date,” he said. “We might have missed on the first 20-per-cent move, but we want to capture the next 20-per-cent upside on the stock. We see stock moving towards $16.50 mark over the next one year, which is closer to our previously published forward NAV.
“We are now clearly overweight Seniors Housing sector (with SO-rating on both CSH and SIA).”
His target for the Markham, Ont.-based company’s shares jumped to $16.50 from $14.50, which is the current average on the Street.