Morgan Keegan Lowers PT On Emeritus From $31.00 To $29.00 (ESC)

In a recent report, Morgan Keegan has lowered the price target on Emeritus ESC from $31.00 to $29.00 but maintained their Outperform rating after 1Q results were shy of Morgan Keegan's estimates. In the report, Morgan Keegan said, "We continue to believe Emeritus is well-positioned to take advantage of gradually improving occupancy and rate coupled with growing demand and fairly static supply." ESC closed yesterday at $23.21.