Morgan Keegan Has Outperform On Emeritus Corporation

Morgan Keegan has an Outperform rating and a $29 price target on shares of Emeritus Corporation ESC. In a note to clients, Morgan Keegan writes, "In the near term, we continue to believe that the company remains on track to meet our expectation of modest occupancy and rate improvement, leading to steady CFFO growth. Longer term, we see upside to the entire portfolio from steady improvement of turnaround facilities; leveraging the company's marketing strengths to generate occupancy and rate gains at stable facilities; service expansions, especially memory care and ancillary services; selective accretive acquisitions; and continued increases in resident acuity." Shares of ESC gained 6 cents on Friday to close at $21.31, a gain of 0.28%.