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HCP, Inc. (HCP)

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We are changing our long-term recommendation for HCP, Inc. (HCP) from Neutral to Outperform as we anticipate it to perform well above the broader market.

In the last 30 days, fiscal earnings estimates have been increased by most of the analysts, driven by its diversified portfolio that provides a hard-to-replicate competitive advantage over its peers. The healthcare sector is relatively immune to the downturn in the economy, and provides a steady source of income that insulates the company from short-term market volatility.

Fiscal earnings estimates have moved up for HCP in the last 30 days, indicating that the analysts are bullish about its long-term performance. Our long-term Outperform recommendation on the stock indicates that it would perform well above the broader market.

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