UPDATE: Jefferies Raises PT on Hanger Orthopedic Group to $24.50
Jefferies reiterates its Hold rating on Hanger Orthopedic Group (NYSE: HGR) and raises its price by $1.50 a share to $24.50 as revenue and EPS consensus estimates appear adequately conservative.
Jefferies says, "We believe that current FY12 revenue and EPS estimates for HGR remain conservative given our expectation for sustained organic revenue growth (benefiting from a Medicare rate bump) and margin expansion. Despite the recent run-up in the stock, expectations seem to remain low going into Wednesday's earnings release, so we expect the stock to react positively to in-line/slightly above-consensus FY12 guidance."
HGR closed at $21.19 a share on Friday.
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