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CIBC World Markets Corp. downgrades Extendicare Inc. to 'neutral'

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CIBC World Markets Corp. downgrades Extendicare Inc. to 'neutral'

CIBCWorld Markets Corp. analyst Yashwant Sankpal lowered his investmentopinion of ExtendicareInc. to "neutral" from "outperformer," with aprice target of C$11.

The analyst wrote in a research report: "We continue tobelieve EXE has strong organic growth potential, including an exceptional pipelineof development opportunities among the best of its Canadian peers (LTCredevelopment projects, expansion in the private and public home care sectors,RH acquisitions, etc.) and the liquidity needed to execute on this pipeline."