Brookdale Senior Living gaps up above its 10-day MA, levels to watch The shares gapped open above the 10-day moving average this morning, last at $27.21 and now support. At the current price of $28.26, the shares are near a prior 52-week high that was broken earlier in the session. To find prior resistance close to current levels, we need to look several years, finding a zone at $29.30. JMP Securities bumped its price target on the shares higher this morning, to $32 from $28, based on improved guidance for 2013.
Brookdale Senior Living downgraded to Neutral from Buy at BofA/Merrill BofA/Merrill downgraded Brookdale Senior Living to Neutral and lowered its price target to $25 from $35. The firm sees limited upside potential over the next year given weak industry fundamentals and ongoing issues around the Emeritus integration. BofA/Merrill said Q3 industry data indicates it will be difficult for Brookdale to show near-term improvement.