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Fly News Breaks for November 2, 2016
BKD
Nov 2, 2016 | 07:35 EDT
As noted earlier, RBC Capital analyst Frank Morgan downgraded Brookdale Senior to Outperform from Top Pick. As reasons for the downgrade, Morgan cited the company's miss and guide down, which he blames on weaker than expected occupancy growth and higher spending by the company. The analyst says that investors will probably "remain skeptical" about the stock until the outlook on these items becomes more certain. Target to $16 from $25.
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