WELL - Rite Aid cut to neutral Welltower upgraded: in today's analyst action in healthcare

Landscape and nature photographer based in Upstate, New York/iStock Editorial via Getty Images Rite Aid could be a “show-me story” in fiscal 2022: Piper Sandler With a ~14.5% loss in share price, Rite Aid (RAD) market cap fell below $1B yesterday in reaction to the mixed performance disclosed by the company for Q1 FY21 financials. Today, the stock continues to trade lower in the pre-market with a loss of ~3.0% after Piper Sandler downgraded the stock to underweight from neutral noting a lower-than-expected adjusted EBITDA guidance for FY22 due mainly to COVID-related headwinds. “Given the ongoing turnaround, high leverage, challenging near-term backdrop, and limited visibility” the downgrade is prudent, the analysts led by Lisa Gill wrote adding that they “expect the stock to be a show-me story in FY22.” The price target cut to $12.00 from $21.00 per share indicates a downside of ~31.3%. Early this week, Deutsche Bank slashed the company’s price

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Rite Aid cut to neutral, Welltower upgraded: in today’s analyst action in healthcare