UPDATE: Deutsche Bank Downgrades Five Star Quality Care to Hold, Lowers PT on Q1 Results Miss

In a report published Tuesday, Deutsche Bank analyst Darren Lehrich downgraded the rating on Five Star Quality Care

from Buy to Hold, and lowered the price target from $7.50 to $6.00. In the report, Lehrich noted, “FVE's Q1 results widely missed expectations, and the co's overall occupancy trends continue to lag the peer group. While we maintain a positive thesis on the senior living sector's multi-year outlook, we believe FVE's relative performance could continue to lag the market due to: (1) weaker occupancy in its core AL/IL segments; and (2) sustained pressure in its SNF segment. We're trimming ests and our PT moves to $6 (from $7.50). Hold rating reflects more cautious view on FVE's positioning, offset by discounted valuation.” Five Star Quality Care closed on Monday at $4.97.