RBC Capital Markets raised its price target on Extendicare Inc. (EXE.TO) to $13.50 from $11.
Analyst Pammi Bir maintained a Sector Perform rating on shares of the Canadian senior care provider.
"Our outlook on EXE continues to improve, with further progress made across segments," Bir said in a note to clients.
"The substantial lift in government funding has stabilized long-term care (LTC), with our forecasts reflecting a return to more typical inflationary-type growth," the analyst said.
"As well, demand at ParaMed is accelerating as it fills the gap created by capacity constraints in LTC and retirement homes," Bir said.
"Together with the benefits of its shift to a capital light model, a clearer and improving picture of growth continues to form."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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