Shares of Medical Properties Trust (MPW) soared over 5% in pre-market trading on Friday, following actions from analysts covering the healthcare real estate investment trust (REIT).
BofA analyst Joshua Dennerlein lowered the firm's price target on MPW to $3 from $3.50, but maintained an Underperform rating on the stock. While a price target cut typically weighs on a stock, the relatively modest reduction may not have had a significant impact in this case.
Meanwhile, a separate analysis from Zacks Investment Research highlighted some key factors that could be driving investor interest in MPW. The report noted MPW's attractive valuation compared to peers, as reflected in its Value Style Score of C, indicating the stock is trading roughly in line with the industry average.
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