The Globe and Mail reports in its Tuesday, Oct. 3, edition that Laurentian Bank Securities analyst Frederic Blondeau has downgraded his recommendation for Northwest Healthcare Properties REIT to "speculative buy" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Blondeau gave his unit target a $2 trim to $7, matching the consensus. The Globe says Mr. Blondeau made the rating change because of potential execution risks stemming from its strategic review process. Mr. Blondeau says in a note: "Management provided, in our opinion, only a partial update on the process, with limited visibility on the CEO search and the overall business plan, given the present context. NWH indicated having received a broad range of enquiries, inclusive of expressions of interest and non-binding proposals regarding certain assets. In addition, the REIT is exploring strategic initiatives involving the potential sale of all, or part, of NWH's U.S. and/or Brazil portfolios and did not provide details on the U.K. portfolio. Although we fully acknowledge the REIT's relatively complex structure, we find relatively difficult, and arguably premeditated, to see any value generating outcome from such initiatives."