UPDATE: Morgan Keegan Downgrades Skilled Healthcare Group to Market Perform

Morgan Keegan is out with its report today on Skilled Healthcare Group SKH, downgrading SKH from Outperform to Market Perform. In its report, Morgan Keegan writes, "We believe that Skilled Healthcare Group can grow earnings by providing high-acuity medically complex services to short-stay patients at its owned and leased nursing homes. We expect the company to augment this internal growth through accretive acquisitions. Our Market Perform rating is based on the negative impact of an 11.1% Medicare rate cut scheduled for October 1." Morgan Keegan lowers its PT from $14.00 to $6.75. Shares of SKH closed Friday at $8.80, up 1.03% from Thursday's close.