Welltower Stock Soars on Analyst Upgrade to 'Overweight'

Shares of Welltower (NYSE: WELL), a healthcare-focused real estate investment trust (REIT), jumped 1.6% on Thursday as JPMorgan Chase analyst Michael Mueller upgraded his rating to 'overweight' from 'neutral'.

Mueller also set a price target of $260 per share, which is 11% higher than the stock's closing price that day.

According to reports, Mueller's adjustment was part of J.P. Morgan's broader reevaluation of its REIT coverage, and he believes Welltower has several years of better-than-average growth ahead.

The company's ability to post impressive net operating income growth is 'admirable for any company in the sector,' Mueller noted.